Murray Goulburn reviewing its suppliers support package
Responding to complaints it is not addressing its farmers main concern, Murray Goulburn (MG) is reviewing its Milk Supply Support Package.
MG established its Milk Supply Support Package to offer its dairy farmers loans after it dropped its expected farmgate milk prices early in 2016.
This week however, the dairy co-operative has conceded it was clear that the package is not considered by suppliers to have addressed their most significant concerns and is potentially proving counterproductive in retaining their loyalty.
“This was not its intent and the Board is very mindful of therefore actively reviewing all options with a view to providing a better solution to support Suppliers in the long term interests of suppliers and MG,” Chairman of MG, Phillip Tracy said.
It is expected that the review should be completed by the end of October 2016.
The Milk Supply Support Package allowed for MG to pay its farmers AUD $5.53 per kilogram of milk solid for last season instead of the season’s actual price of AUD $4.80 per kilogram of milk solid. The extra money is however only issued as a loan.
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