Murray Goulburn announces price step-up

AUSTRALIA’S farmer-owned dairy company – Murray Goulburn has advised the co-operative’s dairy farmer–shareholders of an increase in the farmgate milk price for the current season.

In his statement to suppliers managing director Gary Helou advised of a price increase of $0.20/kg protein and $0.08/kg butterfat for milk supplied across the 2011/12 season.

In announcing the step-up Mr Helou said that the softening world market prices compounded by a strengthening Australian dollar remained a big concern as they significantly impacted company profitability and ultimately the final milk price.

“We need to be very vigilant in marketing our products at the highest possible value-add point and importantly at the lowest cost base. This will be a key theme for Murray Goulburn as we chart our future roadmap in the face of increasing world market volatility,” Mr Helou said.

“We have reviewed our forecast final weighted average milk price for 2011/12 provided at the start of the season. Given the current uncertainties in the market place, we believe the final weighted average milk price should be around $5.30kg per kilogram of milks solids, which is at the lower end of our previously indicated range.”

Mr Helou commenced in the role as Managing Director of Murray Goulburn on 3 October after 12 years as CEO of Sunrice.

“Since my commencement my main priority has been to familiarise myself with our business, our people and our operating plans. I look forward to sharing my initial views and goals at the forthcoming shareholder-supplier meetings in early November 2011,” Mr Helou said.

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