Kerry is stepping up July milk prices and believes bad weather farm payments

  • Kerry is stepping up July milk prices and believes bad weather farm payments
    FarmIreland.t. E.
    Kerry group announced the increase of prices for milk 1C/litre (including VAT) to suppliers for July milk.
    https://www.independent.ie/business/farming/dairy/milk-prices/kerry-increases-its-july-milk-price-and-considers-bad-weather-payments-to-farmers-37203189.html
    https://www.independent.ie/business/irish/article37201446.ece/0fddf/AUTOCROP/h342/2018-08-10_bus_43158517_I1.JPG

  • Email

Kerry group announced the increase of prices for milk 1C/litre (including VAT) to suppliers for July milk.

It comes the day after Kerry announced half year numbers which showed revenue growth of 1.4 PC on an annual basis for the first half.

Kerry will pay the suppliers of milk 32C/litre (including VAT) for July milk he said today.

CEO of Kerry group, Edmond Scanlon said he is considering a new support scheme payment for the milk suppliers, with a large number of farmers suffering from the effects of extreme this year weather.

Yesterday Mr. Scanlon told reporters in Dublin that such a scheme was “something we are going to have to look at”.

“There’s a package of things that we see in terms of the different types of support. We need to see in a couple of months of trade as weather goes… but of course, we will not be found wanting, as an organization, to help our farmers.” Around 14pc hole saw company is owned by co-op Kerry.

He said he was more optimistic about the prospects for rising prices of milk than he was in February. “Overall, we are quite optimistic that the price of milk will suffice. At the end of the day, a Group Kerry does not set the price of milk, is a market event, but we are doing everything possible to drive volatility out.”

The growth of Kerry’s revenue reflects growth of 3.6 PC and 0.6 PC improvements in pricing and the contribution from acquisitions, according to interim results of the group.

See Also


Farmers can bear my expense to feed grew by €10,000 per month’

Bill farmer feed increased by 10 000 euros per month compared to the same period last year due to the drought.

However, the consumer products business saw its sales decrease in margin of 10 basis points to 10.5 PC, as a steady volume growth and contributions from acquisitions were offset by unfavorable currency movements.

On a constant currency basis, the group’s sales rose 8pc year-on-year.

Scanlon also said the company may spend as much as €800 million on acquisitions this year and that its production in this respect was as strong as he had ever seen.

“We very much see ourselves as a consolidator in our space. We feel very good about where we are,” Mr. Scanlon said, adding that the plan will be largely focused on taste and nutrition division. However he said that approaching €800 m to spend will depend on the timing of the closing of the transaction.

This Department – which contains ingredients other firms is much more than the other division, which makes consumer products such as Danny and Cheestrings.

Online Business Classes