Beston Delays Milk Payments

by | May 23, 2024 | Australia, News

Beston Global Food Company has asked its farmer suppliers to wait for full payment of their milk. In April, the processor withheld 15% of farmers farmgate milk price payments.

Beston cites cashflow problems and difficult market conditions for the decision to delay part payment. Chief executive Fabrizio Jorge said consumers are reaching for cheaper NZ products in the dairy aisle rather than Australian products due to cost-of-living pressures.