“Recently we issued a milk price update confirming our commitment to the payment of a Burra Supply Incentive (BSI) in August for the FY18 season,” said Grant Crothers, Chief Executive/Managing Director.
“In recognition of the continuing unfavorable seasonal conditions and the increased cash flow pressure on many dairy farming enterprises, we have reviewed our current position and brought forward the timing of the payment,” he said.
“Rather than one payment in August, the BSI will be paid in two instalments: the first on 15 June (with the May milk payment), and the second on 15 July.
“Instalment one will be the BSI payment for all milk solids supplied from 1 July 2017 to 31 May 2018, and instalment two for all milk supplied from 1 June 2018 to 30 June 2018.
“We anticipate that this earlier payment will assist our Milk Supply Partners by providing improved cash flow for their businesses.”