Exports of Kerrygold butter to the US was frontloaded by Ornua at the beginning of the year in anticipation of the imposition of tariffs by the Trump administration.
"We took a view before Christmas that for last year's production we would place all the product destined for the US that we had available, into the US," the CEO of Ornua Conor Galvin said.
"To an extent we are the victims of our own success because most of that product has sold."
The dairy group said the US is an important market for cheese and butter under the Kerrygold brand, and the 10% tariff currently on its products has not affected sales "as yet".
"There's a significant degree of uncertainty at the moment around what the final tariff will be," Mr Galvin told Morning Ireland.
"It's very early days and the challenge now for us will be working through the detail to figure out what certainty we can bring to the situation."
Kerrygold is considered a premium product in the US with a pound of butter costing $9.54 in Walmart before tariffs. Mr Galvin was asked if he thought consumers would stay loyal to the brand.
"They pay a premium for a premium product. We do have to be careful, that we continue to drive that value for our consumers and that they continue buying the product," he said.
"We will work with our retailers in the coming months and listen to our consumers to make sure what we are delivering to them is value for money because that is an important part of the equation," he added.
Ornua today reported robust retail sales of Kerrygold in the US last year, further strengthening its position as the second most popular butter brand there.
It said Kerrygold reached a record number of US households in 2024, following the introduction of a new one pound butter block – a first in the market.
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However, the outlook for the months ahead is uncertain because of global trade tensions following the introduction of tariffs by US President Donald Trump.
The largest exporter of Irish dairy products said the first quarter of 2025 has been relatively positive for the Ornua business.
The dairy group said its turnover for the 12 months to the end of December dipped by 0.2% to €3.4 billion, while its operating profits increased 11.8% to €130.5m.
Earnings before interest, tax, depreciation and amortisation last year rose 10.5% to €165.5m.
"Kerrygold has strengthened its standing as Ireland's most successful food brand, with over 12 million retail packs of butter and cheese sold globally each week in 2024," the CEO said.
He said the exact impact of the challenges of trade tensions remains to be seen. "We are confident in the strength of Irish dairy which is a unique and sought-after proposition on the world stage."
"We have premium brands and food ingredients that are enjoyed globally, thanks to the qualities of the Irish grass-based dairy farming system, the hard work of Irish producers and processors, and the unique strengths of our co-operative business model."
During the year, Ornua said that €2 billion of Irish dairy products were bought, which were further supported by an Ornua Value Payment of €72.8m, made up of cash bonuses and additional premiums paid to member co-operatives for product supplied to the business.
Kerrygold Park, the home of Kerrygold butter production, had a record year in terms of output following its first full operational year after the completion of a €40m expansion project in 2023.
In the UK, Kerrygold ended 2024 as the number two block butter brand and the fastest-growing brand in the category.
