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ICMSA describe Kerry Decision to cut milk price as “very disappointing” and against the indicators

ICMSA describe Kerry Decision to cut milk price as “very disappointing” and against the indicators

 

The Chairperson of the ICMSA Dairy Committee, Ger Quain, has said that Kerry suppliers are very angry with the decision by Kerry Group to cut the price of milk for April Supplies by 0.5cpl and he said the decision was particularly reprehensible in light of the fact that current market indicators show that the prices on World, European and Irish markets had all strengthened in the last month as illustrated by the rebound of the Ornua PPI of half a cent per litre for April.

“The Dutch Dairy Quotations showed prices above 33cpl for the month of April when averaging WMP, Butter and SMP, while the GDT has scored an impressive 11 consecutive positive results”, said Mr. Quain, before noting that global milk supplies are actually falling with EU supplies stable.   “All market indicators – apart from concerns in relation to Brexit – are positive and how a half cent cut to 30.5cpl is inferred or derived from this current market is very hard to understand and is unjustified in ICMSA’s view.  This drop goes against all the indicators and the suppliers of Kerry have every right to ask what the basis for this cut is”, he said.

Mr. Quain concluded by stating that the decision of other Co-ops to hold April milk price was the least farmers could have expected and he called on Kerry Group to review its decision and to start moving to the top of the milk price league “in line with their commitments”.

Ends    16 May 2019.

Ger Quain, 086-3623041

Chairperson, ICMSA Dairy Committee

Or

Cathal MacCarthy, 087-6168758

ICMSA Press Office

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