Murray Goulburn sticks to milk price
Murray Goulburn (MG) dairy co-operative says it will still pay a southern milk region farmgate milk price of AUD $5.20 per kilogram of milk solids despite a reduction in its milk intake.
As currently forecasted, MG’s total 2018 financial year milk intake is expected to be a reduced amount of approximately 2.3 billion litres.
MG says the reduction has been offset by various cost and business improvements.
“While maintaining the forecast FY18 FMP range of AUD $5.20 – $5.50’kg MS, if the recent strengthening of the Australian dollar was to continue over the full financial year, this could create some uncertainty in relation to the achievability of $5.50/kg MS,” MG said.
“MG will continue to consider all avenues to maximise the available FMP.”
MG said it expects to announce its 2017 financial year results on 22 August 2017.
MG to sell Kiewa Country brand
MG further announced it has entered into an arrangement to sell its Kiewa Country brand and assets to a local business. MG said the sale price was confidential.
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