July 1, 2004

Milk Price To Increase In Australia

Australia's biggest dairy processor has announced a 5 per cent increase on its milk price for the new season.

Murray Goulburn's chairman Ian Macauley is hoping the news will bolster the spirits of farmer suppliers struggling to cope with the drought.

"I think that we're starting to get the industry into a recovery phase.

"As I said, if the milk flow starts to recover, this helps people's cash flow a little bit.

"I think we've still got a way to go; but yes, I think we've seen the worst of it."