Australian Consolidated Milk steps up as Global Dairy Trade rises
Source: dairynews.today
Australian Consolidated Milk has made its first price increase for the financial year amid a rise in global dairy trade.
Australian Consolidated Milk (ACM) has raised its farmgate prices, providing a significant lift with a 30 cents per kilogram milk solids step-up for the season. This adjustment includes 19 cents per kg milk solids butterfat and 42 cents per kg milk solids protein, backdated to January 1.
As confirmed by ACM chief executive Jason Limbrick, the weighted average price now stands at $8.25 per kilogram milk solids. Looking forward to the next season, ACM is concentrating on securing contracts that support positive pricing despite geopolitical and currency risks.
Meanwhile, Fonterra has also implemented a second step-up, marking a 20 cent increase, aligning their price at $8.35 per kilogram milk solids. This adjustment comes as the Global Dairy Trade index rose by 1.6% to $US4385, with whole milk powder achieving a 2.8% rise to $US4171.
Fonterra CFO Andrew Murray expressed optimism regarding the demand, particularly in whole milk powder across regions such as China and Southeast Asia.
As confirmed by ACM chief executive Jason Limbrick, the weighted average price now stands at $8.25 per kilogram milk solids. Looking forward to the next season, ACM is concentrating on securing contracts that support positive pricing despite geopolitical and currency risks.
Meanwhile, Fonterra has also implemented a second step-up, marking a 20 cent increase, aligning their price at $8.35 per kilogram milk solids. This adjustment comes as the Global Dairy Trade index rose by 1.6% to $US4385, with whole milk powder achieving a 2.8% rise to $US4171.
Fonterra CFO Andrew Murray expressed optimism regarding the demand, particularly in whole milk powder across regions such as China and Southeast Asia.
