A new fixed milk price scheme for Kerry Group suppliers has opened for applications today (Tuesday, October 5), the processor has confirmed.
In a message to suppliers, Kerry said that its latest ‘Forward Price Scheme’ offer has been confirmed at 35.3c/L at 3.3% protein and 3.6% butterfat including VAT.
The scheme will run from March to October next year. The application process opened today at 2:00p.m and will close this Thursday (October 7) at the same time.
In Kerry’s most recent monthly milk price offering – for August supplies – the processor announced a price of 35c/L including VAT, at 3.3% protein and 3.6% butterfat.
That price was 38.44c/L including VAT at EU Standard Constituents 3.4% protein and 4.2% butterfat.
According to the group, based on Kerry’s average milk solids for August, the milk price return inclusive of VAT and bonuses is 38.93c/L.
The monthly milk price offering from all processors for milk supplies in September are expected to be revealed over the course of the next 10 days or so.
On the commercial front, Kerry Group completed the acquisition of food preservation company Niacet for €853 million ($1.015 billion) last month.
The business confirmed on September 14, that the deal – originally announced earlier in the summer, had been finalised.
Kerry said that Niacet’s food preservation activities complement the former’s “existing extensive portfolio for food protection and preservation”.
Niacet has a leadership position in bakery and has “cost-effective” low-sodium preservation systems for meat and plant-based food. Its range includes both conventional and clean label solutions.
“Globally, the consumer and market demand for technologies that preserve freshness, extend shelf life and reduce the global burden of food waste is accelerating,” the Irish business said.
Previously, Kerry said that one of the reasons for the acquisition was a growing demand for plant-based foods requiring new food safety and shelf-life solutions.