Miraka Boosts Milk Price Forecast for Current Season, Confirms Strong Outlook for 2023-2024
Source: DairyNews.today
Miraka has revised its milk price forecast, raising expectations to $9.17 per kilogram of milksolids (kg MS) for the current season while confirming a forecast of $8.00/kg MS for the 2023-2024 season. This update underscores the company's commitment to supporting its dairy farmers during challenging economic conditions.
Karl Gradon, CEO of Miraka, expressed optimism about the strong forecast, noting its importance for the company's milk suppliers. "Our farmers have faced significant pressures with lower commodity prices, rising operating expenses, and higher interest rates. We are pleased to provide a robust forecast for the 2024/25 season, which will help ease some of these challenges."
Joan Barendsen, General Manager of On-Farm Excellence at Miraka, highlighted the continued improvement in farm performance through the company’s farming excellence initiative, Te Ara Miraka. “Our farmer-suppliers have consistently improved their operations, and this season we celebrated a record 13 farms achieving excellence, qualifying them for an additional premium payment of $0.20 per kilogram of milksolids.”
Launched in 2016, the Te Ara Miraka programme has proven to be a significant success, with over $25 million in premiums distributed to dairy farmers who meet the programme's rigorous standards of excellence. This initiative has been instrumental in enhancing farm productivity and reinforcing Miraka’s long-term commitment to sustainable farming practices.
As the dairy industry continues to face a volatile market, Miraka’s forward-looking price forecasts and premium reward systems provide stability and support for its farmers, helping them navigate financial challenges while maintaining high standards of production.
Joan Barendsen, General Manager of On-Farm Excellence at Miraka, highlighted the continued improvement in farm performance through the company’s farming excellence initiative, Te Ara Miraka. “Our farmer-suppliers have consistently improved their operations, and this season we celebrated a record 13 farms achieving excellence, qualifying them for an additional premium payment of $0.20 per kilogram of milksolids.”
Launched in 2016, the Te Ara Miraka programme has proven to be a significant success, with over $25 million in premiums distributed to dairy farmers who meet the programme's rigorous standards of excellence. This initiative has been instrumental in enhancing farm productivity and reinforcing Miraka’s long-term commitment to sustainable farming practices.
As the dairy industry continues to face a volatile market, Miraka’s forward-looking price forecasts and premium reward systems provide stability and support for its farmers, helping them navigate financial challenges while maintaining high standards of production.
