New bonus rate on milk

By NERIDA BLOK

NORCO chair Greg McNamara says dairy farmers are excited by the co-operative's milk pay rates released this week for the remainder of the financial year.

Applying January to June 2005, they include a base rate of 31 cents a litre paid for milk supplied in January, 33 cents in February and March, and 34 cents for milk supplied from April to June.

They also include a 'new milk' price, which will give farmers an additional 10 cents a litre for every extra litre of milk they provide above what they supplied last year.

"It is the highest price anyone has got in Australia," Mr McNamara said.

"So it's a pretty exciting time for farmers."Mr McNamara accepted January's base rate was two cents lower than last year's, however he said the yearly base price was higher overall.

"We must remember that the September and October rates were lifted above the yearly rates," he said.

"That will over compensate for any downward price that has occured in January."

In regard to volumes, Mr McNamara said a lack of supply in the next six months was a concern to the entire industry.

"The whole industry is nervous," he said. "It's not wrong to say Norco isn't concerned to supply markets, but on the other hand, you've got opening markets in Queensland where the population is growing and volumes of milk being supplied is declining by eight per cent."



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