Burra Foods has announced an increase in milk price for Milk Supply Partners equivalent to $0.10/kg Milk Solids across the full FY21 year.
Burra Foods Chief Executive Officer, Stewart Carson, said the increase was the result of strengthening international demand for dairy products and the agility of Burra Foods to capture value.
“Recent increases in demand have resulted in price increases on GDT over the past few months and Burra Foods has been able to take advantage of this by adjusting product mix,” Mr Carson said.
“Unfortunately, the continued strengthening of the Australian dollar against the US dollar continues to be a real challenge but we are confident with our position to increase milk price for the season.
“A great spring and mild summer have made for another great season in Gippsland. With grass still growing in many parts of the region and plenty of hay and silage stored away, our Milk Supply Partners are producing well, and our milk supply is up on forecast.
“We are proud to be based in Gippsland. The reliability of milk supply is a strong selling point to our customers and provides them with the confidence of ongoing supply,” he said.
“The global markets seem to be well balanced, so we don’t expect to see much change in the short to medium term.
“However, we remain focused on adjusting our product mix to maximise value and continue paying a competitive milk price to loyal Milk Supply Partners.”
-Burra