Bega Cheese, owner of the Vegemite brand and a host of milk and dairy brands including Dairy Farmers, Farmers Union and Big M, warned the direct full-year impact of COVID-19 disruptions has expanded to at least $40 million and that floods on the eastern seaboard have caused fresh headaches.

The company also said harsh lockdowns in Shanghai in China have injected fresh uncertainty on deliveries of the group’s products to the broader China market because many of those deliveries go through the port of Shanghai.