Bega has raised its 2024/25 farmgate milk price by 10c per kgMS to a range of $8.15kgMS to $8.45kgMS for suppliers in Victoria, NSW and South Australia.

Strength in Bega’s international commodity business supported the step despite a weak domestic trading environment, where pricing in some categories has declined.

Fonterra also raised its farmgate milk price forecast earlier this month, to an average of $8.35kgMS.

Meanwhile, Bega announced it is closing its Strathmerton manufacturing site in northern Victoria, consolidating its processing and packaging operations in the Bega Valley. The closure will be staggered and is expected to be complete by mid-2026. The site employs around 300 people and Bega said it will offer redeployment where possible.

Bega expects annual savings of $30m as the company consolidates and moves to eliminate duplication.