Kerry suppliers given 24 hours to avail of ‘Forward Price Scheme 2’

Kerry Group suppliers have been given 24 hours to lock into the Kerry Agribusiness Forward Price Scheme 2 as of 2:00pm today (Tuesday, August 24).

Applications are being accepted from suppliers until 2:00pm tomorrow.

To tie into the scheme, milk suppliers have to log on to the Kerry Agribusiness Online Services and apply for the volume of milk they wish to commit.

The price on offer under the scheme was confirmed this afternoon at 32.3c/L including VAT, a spokesperson for the dairy giant informed AgriLand.

This price will run from September-October 2018 and March-October 2019, at solids of 3.3% protein and 3.6% butterfat including VAT, according to Kerry.

Under the scheme, suppliers can apply for a minimum of 1% and a maximum of 20% of their annual contracted milk volume.

This is the second such offering in place for Kerry suppliers, following on from the initial Kerry Agribusiness Forward Price Scheme back in June.

Also Read: Kerry Group unveils ‘Forward Price Scheme’

Under this, Kerry suppliers were given the option to “tie down” a portion of their milk production to a fixed-price 12-month contract – from July 2018 through to June 2019.

The scheme price on offer was 33c/L including VAT for supplies – with solids of 3.3% protein and 3.6% butter fat.

Under this scheme, farmers were given the option to secure between 1% and 10% of their annual milk volume into the forward price scheme; the maximum has since been doubled under the current offer.