Wednesday, July 6, 2022

MG releases final milk price increase

Australia’s farmer-owned dairy company Murray Goulburn Co-operative Co. Limited (MG) today advised its dairy farmer suppliers of a final step-up for the 2012/13 season of $0.04 per kilogram fat and $0.10 per kilogram protein. 

This takes MG’s final weighted-average price for 2012/13 to AU$4.97 per kilogram milk solids.

“The step-up is possible due to our continued hard work on MG’s cost reduction and efficiency program and our capacity to deliver returns in what was a very difficult market for most of 2012/13. This is consistent with the co-operative’s approach of returning available profits to our shareholders,” MG Managing Director Gary Helou said.

“This step-up injects a further AU$15 million into MG dairy farm cash flows and adds further to our 27 per cent increase in opening price. Combined, it is estimated that MG will provide an additional AU$245 million to its suppliers in the first half of 2013/14 compared to last season.” 

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