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Cono Kaasmakers surprises with back payment
Cono Kaasmakers still pays its members a supplementary payment for the past year. This is different from what was told at member meetings in the autumn of last year. However, the fourth quarter has made up for a lot, writes general manager Jerry Griep in a letter to the members.
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"The fourth quarter of the year went so well that we were able to make up for the negative balance of the first period of 2023. Our cheese brand strategy has once again proven itself," Griep said in the letter. "In addition, tight cost management, additional cheese sales and additional volume of milk and powder products under contract have led to this result. Market conditions, such as the quotation of liquid products and powders, have been more favorable than we expected during the last members meeting."
Fourth quarter catch-up
Thanks to the catch-up at the end of 2023, a supplementary payment of 38 cents per 100 kilos can now be paid. This is slightly lower than what was paid out in the previous year, but it is nevertheless a tangible contribution. In addition to the additional payment, 25 cents of membership fees will also be paid, while the total in premiums amounts to €4,23 per 100 kilos, the same as for 2022.
This gives Cono a cash milk price excluding VAT of €47,29 per 100 kilos. That is less than the guaranteed price of €48,08 that FrieslandCampina members received, but for that milk price the Amersfoort company had to withdraw €3,22 from the reserves (which caused the performance price to drop to €45,49). Cono actually added €0,10 per 100 kilos to the reserves. In 2022, the equity amounted to more than 53%.