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Monday 19 November 2018

Kerry to open 'forward price scheme' for 2019 supplies

This is the third forward milk pricing scheme from Kerry
This is the third forward milk pricing scheme from Kerry
Margaret Donnelly

Margaret Donnelly

Kerry milk suppliers will be able to forward sell up to 20pc of their milk next year, under the third 'forward milk price' scheme to be launched by the processor.

The processor is offering suppliers the opportunity to lock in 20pc of their annual contracted milk supply, between March and October (inclusive) next year.

A spokesperson for Kerry said the indicative milk price offer is 33.1c/L (VAT inclusive)  but confirmation of that price would be announced next Thursday, October 25 when the scheme opens at 2pm.

This is the third such scheme Kerry has offered its milk suppliers and the scheme will open on Thursday, October 25 at 2pm and remain open until Friday, October 26 at 2pm.

Suppliers must be registered in advance and they can lock in between 1pc and 20pc of their supply voume that is contracted on an annual basis.

Kerry has ran two previous forward price schemes, with 637 suppliers signing up part of their supplies to the first and 273 participating in the second.

Earlier this week, Kerry announced that it would be paying a September milk price of at 32c/L (VAT inclusive) - unchanged from its August milk price.

It comes as Glanbia and Lakeland also announced September milk prices, complete with warnings about the global outlook.

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