Kerry announces milk price...and its latest forward price scheme

Kerry Group has become the latest processor to reveal its milk price for September supplies – with the group also announcing details for its latest forward price scheme.

In a statement earlier today (Wednesday, October 14), a spokesperson for the group said:

Our Kerry Group base price for September milk Supplies is 31c/L including VAT.

“Based on average September milk solids, the price return including vat and bonuses is 37.232c/L,” the spokesperson added.

Turning to the group’s latest forward pricing initiative, the Kerry Agribusiness Forward Price Scheme 17, the firm’s representative said:

“Kerry Agribusiness Forward Price Scheme 17 will be available to milk suppliers for online application today, Wednesday, October 14, 2020, at 2:00pm and will close at 2:00pm on Wednesday, October 21, 2020.”

In terms of the details, it was noted that the offer price is confirmed at 32c/L including VAT. This is the price, based on milk solids of 3.30% protein and 3.60% butterfat, that will be paid from March to October 2021, the group says.

The maximum volume that can be applied for is 30% of a supplier’s annual contracted milk volume.

Kerry Group is the third dairy processor to reveal its September milk price, following the announcements yesterday of prices from Lakeland Dairies and Glanbia Ireland.