Ornua, owner of the Kerrygold brand, has just had a €50 million monkey lifted off its back.
In a dispute with Brussels over aircraft subsidies, the former Trump administration slapped about $7.5 billion (€6.28bn) worth of tariffs on a range of EU products in 2019, including 25 per cent tariffs on Kerrygold butter, Ornua’s flagship brand.
This is estimated to have cost Ornua about €50 million last year and led to a significant price hike in Kerrygold butter in the US where it is the second-biggest selling butter brand.
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