Friday 28 April 2017

Kerry pays out €6.25m to struggling farmers

Kerry Group chief executive Stan McCarthy stepped down from his role as chief executive of the farmers' body, Kerry Co-op.
Kerry Group chief executive Stan McCarthy stepped down from his role as chief executive of the farmers' body, Kerry Co-op.
Louise Hogan

Louise Hogan

The dairy and global ingredients maker Kerry Group has moved to pay out €6.25m to farmers due to the "difficulties" on farms as the row over price rumbles on.

Kerry's 3,300 farmer suppliers feel the agri-firm has rowed back on promises over a price payment needed to top-up last year's milk price, with the so-called '13th payment' still in mediation.

It comes after Kerry Group chief executive Stan McCarthy stepped down from his role as chief executive of the farmers' body, Kerry Co-op. It is understood relations had become strained over the ongoing price row, however, Kerry Group did not confirm why Mr McCarthy had stepped down from the role.

A spokesman for Kerry Group confirmed they have agreed to pay out 0.6 cent per litre (c/l) on all milk supplied in 2015, excluding the milk supplied under forward sold contracts.

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