Kerry pays out €6.25m to strug­gling farm­ers

Irish Independent - Business Week - - NEWS - Louise Ho­gan

THE DAIRY and global in­gre­di­ents maker Kerry Group has moved to pay out €6.25m to farm­ers due to the “dif­fi­cul­ties” on farms as the row over price rum­bles on.

Kerry’s 3,300 farmer sup­pli­ers feel the agri-firm has rowed back on prom­ises over a price pay­ment needed to top-up last year’s milk price, with the so-called ‘13th pay­ment’ still in me­di­a­tion.

It comes after Kerry Group chief ex­ec­u­tive Stan McCarthy stepped down from his role as chief ex­ec­u­tive of the farm­ers’ body, Kerry Co-op. It is un­der­stood re­la­tions had be­come strained over the on­go­ing price row, how­ever, Kerry Group did not con­firm why Mr McCarthy had stepped down from the role.

A spokesman for Kerry Group con­firmed they have agreed to pay out 0.6 cent per litre (c/l) on all milk sup­plied in 2015, ex­clud­ing the milk sup­plied un­der for­ward sold con­tracts.

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