Kerry Co-op has announced that it is to go back to arbitration with Kerry Group over the leading milk price issue.
In a statement, it said: “Kerry Co-op creameries is both disappointed and frustrated by the latest published position of Kerry Group plc regarding the leading milk price.”
On Thursday, as part of a monthly newsletter, Kerry Group confirmed its position, which it said it told the co-op board in November 2019 and again in January 2021 that there are no outstanding payments to milk suppliers.
The newsletter contribution to milk suppliers said: “The company’s position is that Kerry Group has paid the leading milk price on a like-for-like basis for milk supplied in 2015, and all subsequent years, and that no outstanding payments are due.”
Response
Friday’s statement from Kerry Co-op continues: “While the response and approach of the plc is yet again very disappointing, the co-op is very focused on meeting the essential requirements of our members, those being the payment of outstanding monies up to 2020 and the payment of a top milk price into the future.
"Having assiduously explored all and every avenue with Kerry Group, the co-op is left with no other choice but to revert back to the arbitration process where Kerry Group needs to finally honour its commitments under the milk supply contract and bring this matter to a conclusion.”
So two weeks after the co-op released a statement saying it would not finance a return to arbitration, and just one week after the potential deal with Kerry Group was suspended, it now looks we are set for another long drawn-out affair in the courts.
Former co-op chair James Doyle was adamant he was going back to arbitration whether the co-op board backed him or not.
It now looks like the co-op board is making a U-turn on its last press release and is going to go back to arbitration.
Read more
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Kerry Group pulls the handbrake on buyout deal
Kerry Group to invest further in Southeast Asia
Letter: Kerry Co-op needs new leadership
Kerry Co-op has announced that it is to go back to arbitration with Kerry Group over the leading milk price issue.
In a statement, it said: “Kerry Co-op creameries is both disappointed and frustrated by the latest published position of Kerry Group plc regarding the leading milk price.”
On Thursday, as part of a monthly newsletter, Kerry Group confirmed its position, which it said it told the co-op board in November 2019 and again in January 2021 that there are no outstanding payments to milk suppliers.
The newsletter contribution to milk suppliers said: “The company’s position is that Kerry Group has paid the leading milk price on a like-for-like basis for milk supplied in 2015, and all subsequent years, and that no outstanding payments are due.”
Response
Friday’s statement from Kerry Co-op continues: “While the response and approach of the plc is yet again very disappointing, the co-op is very focused on meeting the essential requirements of our members, those being the payment of outstanding monies up to 2020 and the payment of a top milk price into the future.
"Having assiduously explored all and every avenue with Kerry Group, the co-op is left with no other choice but to revert back to the arbitration process where Kerry Group needs to finally honour its commitments under the milk supply contract and bring this matter to a conclusion.”
So two weeks after the co-op released a statement saying it would not finance a return to arbitration, and just one week after the potential deal with Kerry Group was suspended, it now looks we are set for another long drawn-out affair in the courts.
Former co-op chair James Doyle was adamant he was going back to arbitration whether the co-op board backed him or not.
It now looks like the co-op board is making a U-turn on its last press release and is going to go back to arbitration.
Read more
Kerry farmers move against co-op board
Kerry Group pulls the handbrake on buyout deal
Kerry Group to invest further in Southeast Asia
Letter: Kerry Co-op needs new leadership
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