Kerry Group has announced details of a new three-year Fixed Milk Price Scheme, which has opened for applications today (Monday, October 11).
The announcement of the three-year scheme comes a week after the announcement of the group’s Forward Price Scheme 24 for next year.
The new fixed price scheme opened for applications today at 2:00p.m and will remain open until the same time on Wednesday (October 13).
The offer price for the scheme had been confirmed as 33.1c/L including VAT, at 3.3% protein and 3.6% butterfat.
The scheme will cover the period March to October for the years 2022, 2023 and 2024.
The Forward Price Scheme, meanwhile, opened for applications last Tuesday and closed on Thursday, Kerry said in a message to suppliers.
This scheme will see and offer of 35.3c/L including VAT, at 3.3% protein and 3.6% butterfat.
The Forward Price Scheme will run from March to October next year.
Looking at the wider dairy industry, the monthly milk price offerings for September supplies from the major processors are expected to be announced in the coming days.
Speaking ahead of this coming round of milk prices, the Irish Creamery Milk Suppliers’ Association (ICMSA) said last week that processors should “engage with reality” regarding the setting of a milk price for September.
The association was speaking after the confirmation last week of the latest Ornua Purchase Price Index, which saw an almost 1.3c/L increase in the index price, excluding added value.
The Ornua PPI for September is 121.8, or 36.6c/L including VAT. This is based on Ornua’s product purchase mix and assumed member processing costs of 7c/L, excluding member margin.
Meanwhile, the Irish Farmers’ Association (IFA) also called for processors to reflect the Ornua PPI.
Ornua said that the increase in September, up from 118.1 in the previous month is “as a result of general stronger returns across the product range”.