June 22, 2007

Ireland's Kerry Group gives payment hike for milk farmers

Ireland's food firm Kerry Group on June 21 said it would give further increase in its payment price for milk suppliers based on stable conditions of international dairy markets.

The group confirmed that its supplier milk price payment will increase by a further 11 cent/gallon (2.5 cent/litre) to 145.5 cent/gallon (32 cent/litre) for deliveries from June 1. This brings the cumulative Kerry milk price increase in 2007 to 28.8 cent/gallon (6.3 cent/litre).

Meanwhile, Irish Farming Association Dairy Committee chairman Richard Kennedy said Dairygold's decision to increase its May milk price by 2.2 cents per litre indicates more profit in the current buoyant dairy markets than has been paid back to farmers so far.