An Australian farmgate milk price portal has attracted more than 25,000 visits in the 12 months since it was launched.
A survey of visitors to the Milk Value Portal, which was established in November 2020, shows it improved the understanding of farmgate milk pricing of 65 per cent of the site's users
The Australian Dairy Products Federation launched the portal to provide Australia's dairy industry with a credible, single source of verified information on farmgate milk pricing across Australia's eight milk production regions.
The portal includes the Farmgate Milk Value Tool - an interactive tool based on current and verified processor data that allows farmers to calculate the average value of raw milk in each production region.
"The Farmgate Milk Value Tool lets the visitor customise a farming enterprise by selecting regional location, farm size, seasonality of supply and butterfat and protein content, calculating a milk price for the year and for each quarter," he said.
"You can then create any number of 'what if' scenarios to obtain a deeper understanding of current and historical farmgate milk pricing."
Mr Crothers said a multitude of factors influenced farmgate milk prices across different regions throughout the year.
The need for more transparent information drove the development of the portal.
"Understanding market volatility and the value of milk through processor data not only enhances transparency but also helps optimise decision making and the development of more sustainable dairy farming and processing enterprises," he said.
The Milk Value Portal was developed, and all data is collated and kept up to date, by independent food industry analyst, Freshagenda.
Freshagenda director Steve Spencer said the Milk Value Portal offered fresh insights on how global prices and pressures for dairy commodities influenced farmgate milk prices in Australia.
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"At the moment, the Milk Value Portal is showing us that commodity prices are rising due to tight milk supplies in Europe, a smaller than usual peak in New Zealand production, and a slightly softer Australian dollar pushing up the gross commodity milk value," Mr Spencer said.
"Farmgate milk prices may follow if companies are well placed to be able to take advantage of this with the right product and market mix."
Mr Spencer said the Milk Value Portal also showed the small step-ups of farmgate milk prices recently made by some Australian dairy manufacturers.
"The commodity price rise is helping to ease tensions processors are facing with firm milk costs and rising input costs," he said.
ADPF executive director Janine Waller said the Milk Value Portal was part of the ADPF strategic plan.
It helped meet the commitment to offer greater transparency and insights for all stakeholders, increasing trust and understanding of farmgate milk pricing and the value of milk.
"The Australian Dairy Plan that was launched in 2020 as a partnership between Australian Dairy Farmers, Dairy Australia, Gardiner Dairy Foundation and the ADPF, is now undergoing its first-year review, and we are proud that the Milk Value Portal will continue to be a key part towards achieving the commitments outlined in the Dairy Plan," she said.
"Over the next year, we will focus on education to increase farmers' understanding of the factors that influence pricing, and supporting them to understand what really matters to their farming system and why."
To access the Milk Value Portal, visit: milkvalue.com.au.
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