Melbourne, Aug 5 - Fonterra today announced its seventh 2007/08 milk price step-up for Victorian and Tasmanian suppliers.
The increase in milk price for the 2007/08 season is 9 cents/kg butterfat and 23 cents/kg protein. The increase is retrospective to July 1, 2007 and will be paid to suppliers on 15 August 2008.
National Milk Services Manager, Heather Stacy, said strong performance by Fonterra’s Australian business in the domestic and export markets has seen the company achieve continued and sustained growth.
“Our scale, and the nature of our business model, gives us distinct advantages as we continue to work towards optimising our assets to maximise the value of our suppliers’ milk.
“As changes to customer and consumer demands occur globally, we are seizing the opportunities which arise to add value and provide consistent, long-term results.
“While conditions in our supply regions are variable, all farmers are dealing with high feed and input costs and we will continue to get cash onto farms to assist our suppliers to manage their farm businesses,” Ms Stacy said.