17 August 2001

Top-up from MMB

THE Residuary Milk Marketing Board is to pay out a further £17.5m 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 Apr 1 and Oct 31, 1994. Most will receive both payments, averaging £614 each. &#42

To date, £35.3m, plus shares in Dairy Crest and National Milk Records, has been distributed since the firm went into voluntary liquidation in 1994. It was hoped that the latest payment, due on Aug 31, 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.