On milk price outlook, the new Kerry chief executive Edward Scanlon said “the milk price today is not sustainable based on demand today”. However, he added that it is early in the year and “too early to pin where it will be by May”. He said he was concerned with the volume growth currently coming out of Germany and France. He says he is also watching US milk supply growth. He sees demand growth in the Middle East, driven by improving oil prices picking up the US supply increases.