Tasmanian Dairy Products (TDP) has announced a step up of 18 cents/kg butterfat and 38 cents/kg protein, marking the fourth time that the processor has increased its price this season.
TDP chief executive officer, Tony Catania said that increase was made possible due to a lower Australian dollar, and that the step up will be paid to current suppliers as of 15 March.
“The increase in milk price is effective from 1 February 2014, with retrospective payment on premium and base quality milk supplied to TDP from 1 July 2013 to 31 January 2014,” Catania told the Weekly Times Now.
“The current international market for dairy ingredients shows prices trading firmly which are anticipated to hold during the coming months.
“In addition, the lower Australian dollar compared to the US dollar has contributed to our ability to pay the increase.”
Catania also added that it is a goal of the company to deliver a step up in the price to suppliers as soon as it is viable to do so.
“Our goal is to be a leading dairy company in Tasmania paying leading prices for milk,” he said. “Today’s announcement reinforces that position.”