October 12, 2004

Bonlac Foods Announces Milk Price Increase
 

Bonlac Foods Ltd, the Australia-based manufacturer of dairy products and dairy ingredients, has lifted its milk prices to $5.39/kg protein and $2.25/kg butterfat.

Bonlac chairman Noel Campbell said this represented a milk price increase of 20¢ /kg protein and 9¢ /kg butterfat.

The payment will be retrospective to July 1. Mr Campbell said the company had achieved higher revenue as a result of firm commodity prices, a strategic product mix, and focusing operations on yield increases and lower costs.

"The milk price increase we have announced is based on the improved operations of the company. It also reflects the fact that we are performing ahead of the business plan," Mr Campbell said.

He said the company would continue to seek out innovative ways to continually improve its performance and long-term competitiveness.