By Olivia Cooper
THE Residuary Milk Marketing Board is to pay out a further 17.5 million to its former suppliers.
Of this total, 14m will go to “eligible producers” – those registered under the Milk Marketing Scheme in milk year 1992/93.
The remaining 3.5m will be shared by “end-year producers” – those who sold milk to the Board between 1 April and 31 October, 1994.
Most will receive both payments, averaging 614 each.
To date, 35.3m, plus shares in Dairy Crest and National Milk Record, has been distributed since the firm went into voluntary liquidation in 1994.
It was hoped that this payment, due on 31 August, would conclude the winding-up of the Board.
But a Dissolution Order needs to be made before the process can be completed. This is likely to be in place in January 2001, when remaining funds will be allocated.