Norco to pay drought premium to dairy farmers

Norco to pay drought premium to dairy farmers

ADF News
Norco chairman Greg McNamara.

Norco chairman Greg McNamara.

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NSW dairy co-op, Norco, says their drought support premium payment will increase payments to farmers by 5 cents per litre over the next nine months.

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Norco has announced a drought support premium payment to milk suppliers, effective from the start of October.

The dairy co-op says the move will result in an average increase to the base milk price over the nine months to 30 June 2020 of five cents per litre.

Norco chairman Greg McNamara said the announcement is supported by the continued and detailed review of Norco's performance year to date by the directors and management team.

"The management team has, and continues to, deliver considerable improvements to the underlying profitability of the business as a result of the Business Activity Management Program being undertaken," he said.

"These improvements are now providing a tangible benefit in the form of milk price to the owners of our proud Co-operative - the members and milk suppliers."

Norco's newly appointed chief executive officer Michael Hampson said the co-op would continue to work on its business to ensure it could leverage support for members battling ongoing severe climatic conditions.

"It is very gratifying that our customers and consumers continue to recognise the value of supporting a 100 per cent Australian farmer owned dairy co-operative and collectively we thank them for their great support," he said.

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