The new chair of Kerry Co-op is talking up milk prices for Kerry milk suppliers.

Kerry has been well down the monthly milk league in 2021, but Denis Carroll is lifting hopes that he expects an improvement in Kerry milk price and that a milk price top-up on the 2021 payout to date is on the way.

Not wanting to undermine the work of the leading milk price committee that is negotiating milk price between Kerry Co-op and Kerry Group prior to 2021, Carroll is pinning his colours to fixing milk price.

Once that is completed, we understand he plans to look to other issues such as a potential joint venture with Kerry plc.

A new capital scheme to release value to shareholders may also be on the cards separate to the grey market and redemption scheme currently in place.

At an IFA meeting in Tralee last Wednesday night, Carroll is reported to have said there is no point in owning milk processing unless the business can afford to pay a leading milk price.

Well over 100 farmers attended the IFA meeting.

Also on the ticket were James O’Connell, Kerry Agribusiness, and Stephen Arthur, chair of the IFA dairy committee.