Murray Goulburn (MG) has announced it would now be increasing its farmgate milk price to $5.20 kg/Milk Solids (kg/MS).
Fonterra has announced an opening price of $5.30 a kilogram milk solids (kg/MS) for the coming season.
Fonterra’s managing director Rene Dedoncker has told an annual dairy breakfast the company would be “more vulnerable”, in the future.
Introduction of a baseline for milk supply contracts has been flagged by Australian Competition and Consumer Commissions (ACCC) Agricultural Commissioner Mick Keogh.
Australia’s biggest dairy processor, Murray Goulburn (MG), has announced it will be deleting some of its product lines, later this year.
Western Victorian Bonlac Supply Company (BSC) director Mark Billing has confirmed he has resigned from the board.
Fonterra suppliers have openly questioned the company’s forecasts and plans to entice farmers back to the company, after last year’s retrospective cut in farm gate milk prices.