Following supplier meetings, Saputo have lifted its farmgate milk prices for the 2023/24 season for suppliers in the northern region, southwest Victoria, South Australia, Gippsland and in Tasmania by $0.25kgMS to a range of $9.15kgMS – $9.30kgMS with an increase of $0.17kg butterfat and $0.34kg protein. Saputo also confirmed a final step-up payment of $0.10kgMS to suppliers for the 2022/23 season, applied to all qualified milk supplied under a supply agreement from 1 July 2022. 

Fonterra increased its average farmgate price by $0.20kgMS to $9.20kgMS for the 2023/24 season, comprising $0.17 per kg butterfat and $0.24per kg of protein.