Australian Dairy Farmers Corporation have stepped up the price paid to its suppliers, one of the first processors to step up this season.
While late spring was often a period of price movement from Australia’s big three processors – Bega, Fonterra and Saputo – the 2022-23 financial year kicked off with record prices paid at the farmgate.
As a result, few had offered any change to pricing until today’s announcement by ADFC management.
Backdated to July 1, an average of $9.90 a kilogram of milk solids will be paid to ADFC suppliers across the 2022-23 financial year.
Segmented into six-month payment periods, the price paid stands at $9.50 a kilogram of milk solids between July and December 2022, while $10.30 a kilogram of milk solids will be paid from January to June 2023.
In early July, the big three processors offered unprecedented step ups in the first fortnight of the 2022-23 season.
At the time Fonterra, Saputo and Bega were all offering at or near a $9.40/kg milk solids average — about $2/kg higher forecasted figures in February and March.
Source: Alex Sinnott, The Weekly Times, 25 November 2022
