Australian Dairy Products Federation launches new dairy information website
The Australian Dairy Products Federation has launched a new farmgate milk price comparison website with the backing of the nation’s processors. Here’s what it involves.
CLARIFYING the often complex subject of dairy pricing is the aim of a new online resource launched this week.
The Australian Dairy Products Federation has launched the Milk Value Portal, an initiative backed by the nation’s dairy processors.
ADPF president Grant Crothers said the new site allows for a better understanding of the average Australian farmgate milk price as well the value of raw milk, at a specific time of the year by region and key production factors.
“(The portal) is a deep dive on milk price by region, giving extraordinary detail and a number of tools to give you a ‘what if’ scenario planning ability,” he said.
“It came about through the processing sector being aware of confusion around the milk price, concern around ‘Are the processors delivering fair milk price?’; ‘What is the definition of a fair milk price?’; ‘What should the milk price be?’
“So it’s really providing clarity on those issues.”
One of the key parts of the Milk Value Portal is the ‘Farmgate Milk Value Tool’ which uses raw milk pricing data from dairy processors and aggregates it in an easy to understand format.
This data is volume weighted so that value averages and ranges can be presented clearly, making market knowledge more familiar and accessible.
Visitors to the Milk Value Portal can select parameters to suit their needs, such as region, farm size, milk components (fat and protein content) and seasonal supply curve and discover the weighted average value of raw milk in cents per litre or dollars per kilogram of milk solids, for a particular time of the year.
“This global question — ‘What is the milk price?’ — has not got a simple answer and this is a go-to, one simple version of the truth to answer that question,” Mr Crothers said.
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