Norco Cooperative is lifting its May and June milk price, adding 5c/l as a Coop Premium to suppliers, taking the average milk price to 84c/l. Norco chief executive Michael Hampson said it had been a difficult time for suppliers who have repair costs in the tens of millions following the recent floods in southeast Queensland and northern NSW. Hampson said Norco wanted to deliver support to farmers.
Hampson said Norco remains committed to building a sustainable future for dairy farmers and hinted consumers could see a price increase on Norco’s products to ensure farmers can make a profit. Norco is exploring further milk price increases for the 2022/23 financial year which will be announced on or before 1 June.