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Dairy Australia Fortnightly Update 04/10/2013

Dairy Australia

Categories: Dairy, Farm Innovation & technology

Key points for the fortnight ending 20/09/2013 include:

  • Dairy commodity prices defied expectations at this week’s GlobalDairyTrade (GDT) auction (event 101), as bullish results amongst key products drove a 2.4% increase in the GDT price index..
  • Vietnam’s largest dairy company, Vinamilk, has publicised its intention to double its annual revenue to US$3 billion (A$3.2bn) by 2017 through overseas expansion.
  • Fonterra has increased its forecast for the 2013/14 New Zealand Farmgate Milk Price to NZ$8.30/kg MS (A$7.69/kg MS), citing ‘robust’ demand for dairy commodities which is in turn supporting strong international pricing.
  • Since Bega Cheese (BGA) announced its formal takeover bid for Warrnambool Cheese & Butter (WCB) the latter’s directors have issued multiple letters advising shareholders to reject the offer.
  • Woolworths (WOW) has launched its trial of Farmers’ Own branded milk, with product on sale in the dairy cabinets of 8 WOW stores on New South Wales’ north coast.

Source: Dairy Australia


Disclaimer: Whilst all care has been taken in compiling the information, the information should not be relied upon as substitute for professional advice where necessary. Rural Bank accepts no responsibility for the accuracy, completeness or timeliness of the information and disclaims all liability in relation to any loss or damage suffered by the use of or reliance upon any information contained herein or in any attachment or annexure hereto by any person. Rural Bank – A Division of Bendigo and Adelaide Bank Limited ABN 11 068 049 178 AFSL 237879