Tatura Milk suppliers are due for back pay and a price increase.
Tatura Milk has announced announced a loyalty payment and price increase of 8c/kg butterfat and 20c/kg protein for premium and choice milk supplied in the 2013/14 year.
The company also announced a further price increase of 8c/kg butterfat and 20c/kg protein for milk supplied from November 1 to June 30, 2014.
This loyalty payment and price increase takes the pricing for the 2013/14 season to $6/kg milk solids. The loyalty payment will be paid with October’s milk payments on or before the November 15.
Chairman Barry Irvin said global dairy prices remain reasonably stable and currency, although strengthening, is still more favourable than last year. We remain positive for the outlook for the remainder of the year and as a guide our expectation is that closing milk prices will be in the range of $6.10 to $6.40 kg milk solids.
Mr Irvin said Bega Cheese took the step of commissioning an independent analysis of manufacturing milk prices for the 2012/13 financial year.
The assessment used publicly available announced milk prices and included a variety of different supply curves. The consultants concluded that Bega/TMI when compared to the other major manufacturing milk companies was the leading payer during 2012/13 in Victoria across a large range of supplier patterns.
The assessment was undertaken by respected farm consultants Cameron Smith (Farmanco Pty Ltd) and
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