Kerry pays out €6.25m to struggling farmers
Published 19/05/2016 | 02:30
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.