Kerry Group has agreed to make a goodwill payment of 3c/l to be paid from mid-January 2020.
The company stated: “It will be calculated based on the average annual milk supplied for years 2015 through 2019 and includes any additional payment arising from the milk supply contract in 2019.
“Neither Kerry Group nor any milk supplier has waived rights as a result of this payment.”
Leading milk price
The average Kerry supplier with 80 cows producing 400,000 litres can expect a payment of €12,000 in mid-January as the result of this outcome.
Both parties called it “an important first step which allows for discussion on a future long-term sustainable relationship."