Executive director of the Global Dairy Platform, Donald Moore, recently told an Australian audience that the biggest future threat to the world dairy industry could be synthetic milk.
Processors are claiming Victoria’s dairy farmers could be left out of pocket because of increased gas prices in 2018.
Canadian processor Saputo is offering Warrnambool Cheese and Butter shareholders $8.85 per share in a bid to take full ownership.
Murray Goulburn will pursue its plan to raise external capital through a trade scheme despite its failure to purchase Warrnambool Cheese and Butter.
For nearly 50 years the Holloway family has farmed with the Warrnambool Cheese and Butter factory on the horizon of their Allansford property.
The Federal Government failed to consult with the dairy industry before giving Canadian processor Saputo the green light to buy Warrnambool Cheese and Butter.
Murray Goulburn must wait for formal merger authorisation through the Australian Competition Tribunal despite Saputo being given approval by the Federal Government to take over Warrnambool Cheese and Butter.
Saputo chief executive and vice chairman, Lino Saputo Jnr, said his company’s decision to invest in the Australian market through Warrnambool has been more than 10 years in the making.
Murray Goulburn has made a takeover offer of $7.50 cash for each Warrnambool Cheese and Butter share in its bid to prise the co-op from Canadian processor Saputo’s grasp.