Kerry Group pays more to suppliers

KERRY GROUP has further increased the price it pays its suppliers for milk, due to continued improved returns from international dairy markets.

It confirmed that its suppliers’ milk price payment will increase by a further 11.3 cent per gallon (2.5 cent per litre) to 165.9 cents per gallon (36.5 cent per litre) for deliveries from August 1. This brings the cumulative milk price increase in 2007 to 49 cent per gallon (11c/l).

IFA Dairy Committee chairman Richard Kennedy said that milk prices paid in some parts of Europe were already exceeding 40c/l, with more price increases expected.