Bega Chief Advises Patience for Farm Gate Milk Price Recovery
Source: DairyNews.today
Milk suppliers to Bega Cheese may need to brace for a delayed recovery in farm gate milk prices, according to the company's executive chairman, Barry Irvin. In a recent interview marking the 125th anniversary of Bega Cheese, Irvin acknowledged the industry's frustration with the lower opening milk prices for the 2024-25 season, especially compared to the higher levels seen last year.
“We’ve had two strong years of pricing, and last year’s rates didn’t necessarily reflect global markets but were driven by intense competition for milk,” Irvin noted. He also pointed to the persistent downward trend in global commodity prices, which have yet to show significant signs of improvement despite earlier expectations.
“We still expect an improvement in prices,” Irvin said, “but it’s likely to come later in this financial year or possibly during the first half of the next calendar year.”
Celebrating 125 Years of Growth and Expansion
Despite the current challenges, Bega Cheese has much to celebrate as it marks its 125th anniversary with events across the Bega Valley. Over the past century, the company has transformed from a small milk co-operative into a major player in the dairy and food industries. Under Irvin's leadership, Bega has seen rapid expansion over the last decade, with revenue increasing from $1 billion to $3.3 billion.
This growth has been fueled by strategic acquisitions, including the purchase of Vegemite and Bega Peanut Butter in 2017 and the 2021 acquisition of Lion Dairy and Drinks. Bega’s portfolio now includes well-known brands such as Dairy Farmers, Dare, Farmers Union Greek Style Yogurt, Pura, Big M, and Daily Juice, among others.
Driving Sustainability Initiatives
Bega Cheese is also spearheading sustainability efforts in the Bega Valley with its ambitious Regional Circularity Co-operative (RCC) and the 'Bega Circular Valley 2030' program. This initiative aims to transform the Bega Valley into Australia's most circular regional economy by 2030, with a focus on maximizing resource efficiency and reducing environmental impact.
“Can we get better outcomes in terms of costs or environmental impact? Can we use our resources better?” Irvin said, emphasizing the company's commitment to sustainability. The program is a collaborative effort involving the local community, businesses, and all levels of government, with the goal of rethinking how resources are used across the entire region.
“We still expect an improvement in prices,” Irvin said, “but it’s likely to come later in this financial year or possibly during the first half of the next calendar year.”
Celebrating 125 Years of Growth and Expansion
Despite the current challenges, Bega Cheese has much to celebrate as it marks its 125th anniversary with events across the Bega Valley. Over the past century, the company has transformed from a small milk co-operative into a major player in the dairy and food industries. Under Irvin's leadership, Bega has seen rapid expansion over the last decade, with revenue increasing from $1 billion to $3.3 billion.
This growth has been fueled by strategic acquisitions, including the purchase of Vegemite and Bega Peanut Butter in 2017 and the 2021 acquisition of Lion Dairy and Drinks. Bega’s portfolio now includes well-known brands such as Dairy Farmers, Dare, Farmers Union Greek Style Yogurt, Pura, Big M, and Daily Juice, among others.
Driving Sustainability Initiatives
Bega Cheese is also spearheading sustainability efforts in the Bega Valley with its ambitious Regional Circularity Co-operative (RCC) and the 'Bega Circular Valley 2030' program. This initiative aims to transform the Bega Valley into Australia's most circular regional economy by 2030, with a focus on maximizing resource efficiency and reducing environmental impact.
“Can we get better outcomes in terms of costs or environmental impact? Can we use our resources better?” Irvin said, emphasizing the company's commitment to sustainability. The program is a collaborative effort involving the local community, businesses, and all levels of government, with the goal of rethinking how resources are used across the entire region.
23.09.2024
Carbon emissions in global milk production - the elephant in the room
I have been thinking to make this post yes/ no. I decided for yes and like to ask everyone to not "shoot the messenger". The chart shows an analysis of IFCN Dairy Research Network from the 2024 supporter conference in Poland.
