Fonterra Australia lifts farmgate price

Fonterra Australia lifts farmgate price

Fonterra Australia has announced a lift in its 2021/22 farmgate milk price to $7.30kgMS, up 20c kgMS. The price hike is backdated to 1 July 2021 and comprises 17c per kg butterfat and 24c per kg protein. Fonterra Australia managing director Rene Dedoncker said strong...
Fonterra Australia lifts farmgate price

WOW to phase out drought levy

Woolworths has announced it is phasing out its 10c milk drought levy for dairy farmers by mid-year due to easing drought conditions and rising milk prices. Farmers were advised of the change through Fonterra, Lactalis and Bega with Woolworths scrapping the levy on its...
Aussie dollar falls below US70c

Aussie dollar falls below US70c

The Australian dollar fell below US70c this week as markets digested news the US Federal Reserve is contemplating hiking interest rates to avoid inflation. The Aussie dollar dropped to US69.68c last week, the cheapest it’s been since July 2020, 2.7% in a week....
Fonterra Australia lifts farmgate price

Burra steps up

Burra Foods has increased milk price paid to its suppliers by 10c/kgMS for the 2021/22 season to a range of $6.70kgMS – $7.10kgMS. Burra chief executive Stewart Carson said the company was seeing low market inventories and good demand. Shipping continues to be an...
Fonterra Australia lifts farmgate price

Woolies lifts homebrand milk price

Woolworths has announced an increase in the price of its homebrand milk to $1.30/l for its two litre and three litre range, while one litre will cost $1.35/l. Woolies last lifted prices in July 2019 to $2.39/l for two litres and $3.59 for three litres. A spokesperson...
Fonterra Australia lifts farmgate price

Farm profits jump in Victoria

According to the 2020/21 Dairy Farm Monitor Victorian dairy farmers had the most profitable financial year in more than a decade. The report analysed 80 farms, finding average earnings before interest and taxes (EBIT) on farms rose to $422,000 in 2020/21 from $346,000...