An analysis of the Ornua Value Payment, the additional payment co-ops get from Kerrygold, shows that the payment made up almost 70% of co-op profits before tax in 2025.

The Ornua Value Payment in 2025 was just over €74m, while the profit before tax for member co-ops who actively trade with Ornua was €110m.

In other words, if the Ornua Value Payment did not exist, the combined profitability of the co-ops could be down to just €36m, if they were to pay the same milk price.

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Speaking at the ASA conference last week, Ornua CEO Conor Galvin said that the value payment contributes 2c/l to milk price for member co-ops.

See more page 38.