- The first ever ‘one-stop shop’ Australian Milk Value Portal has been launched today.
- It will allow dairy farmers to understand the weighted average raw milk value, providing answers to the complex question: what is the milk price?
- The portal has been developed by the Australian Dairy Products Federation based on aggregated farmgate milk price data directly from dairy processors, with support from Dairy Australia.
Dairy farmers will have greater transparency of farmgate milk value and the many factors that shape raw milk price outcome thanks to the Milk Value Portal being launched today by the Australian Dairy Products Federation.
Minister for Agriculture, Drought and Emergency Management David Littleproud welcomed the portal and said it would give farmers greater knowledge of farm gate milk value and what drives changes in raw milk value in Australia.
“I congratulate the Australian Dairy Products Federation on the launch of this new portal, which is another innovative example of ag technology helping farmers build better businesses,” Minister Littleproud said.
“It will be an important resource to help farmers better understand the many factors affecting farmgate milk prices and help contribute to their business decisions, such as when farmers are thinking about their next milk supply agreement.
“The interactive Farmgate Milk Value Tool in the portal will enable dairy farmers to assess the current value of their raw milk based on location, farm size, seasonal milk supply pattern and expected butterfat and protein content for both the current and previous year—in cents per litre or $/kg of milk solids.
“This will generate a weighted average farmgate milk value for similar farms, for a particular time of the year.
“The portal will demonstrate how changes of seasonality supply, different butterfat and protein results could affect raw milk prices, as well as featuring a range of information on global market influences and insights to complete the picture.
“The portal is not designed to be a ‘click and compare’ and won’t give individual farmgate milk prices available from processors, or a specific milk price offer, as these still need to come directly from your processor.
The portal is the next step of increased transparency measures for dairy farmers. It complements the mandatory Dairy Code and provides more information to farmers to help with business decisions.
Since 2019 the Australian Government has delivered on its election commitment to support our dairy farmers by ensuring a fairer go for dairy businesses and keeping families on the farm while creating a stronger business environment with better regulation, healthier market competition, and more competitive supply chains.
· Using the interactive Farmgate Milk Value Tool available on the Australian Dairy Product Federation Milk Value Portal, farmers can see average values of raw milk using conditions that are similar to their farms (such as geography, farm size, milk components (fat and protein content) and seasonality.
· The portal is available at www.milkvalue.com.au
· The ACCC is responsible for enforcement of the mandatory Dairy Code. It has published information, including a fact sheet for farmers, to help ensure all parties understand their rights and obligations.