Monday, 20 December 2021 12:25

Record payout for Open Country

Written by Sudesh Kissun

font size decrease font size increase font size
Print
Email

Open Country Dairy has revised its payout to a range of $8.65 to $8.95/kgMS.

Milk processor Open Country Dairy (OCD) is on track to pay its suppliers a record milk price.

The country's second largest dairy player has revised its November settlement period payout to a range of $8.65 to $8.95/kgMS.

OCD pays its suppliers in full four times during the year.

For milk supplied in October and November, suppliers will be paid in full next month.

OCD chief executive Steve Koekemoer says continued strong demand prompted the payout review.

"There is no doubt that we will be setting a new payout record for the business for the current settlement period with the new forecast of $8.65 - $8.95.

"With sales completed for the period and financials being consolidated, I am one hundred percent confident that our average will at least hit the midpoint."

He says the final amount will be confirmed in the coming weeks.

"Leading into Christmas, I am sure it will be welcome news to everyone. It is a great way to end the year."

OCD has also lifted future settlement periods for milk supplied in December and January. The new payout range is also $8.65 to $8.95/kgMS. Suppliers will be fully paid in March.

More like this

DIRA Review: Open Country Dairy Warns Against Regulatory "Complacency"

The country's second largest milk processor is warning against 'complacency' during a review of competition regulations in the dairy sector.

Open Country Dairy Expands Butter Production with New Plant

The country's second largest milk processor, Open Country Dairy, is building a butter plant at its Awarua site in Invercargill.

FTA woes

OPINION: Another example of the dairy sector getting shortchanged in free trade deals?

Open Country opens butter plant

When American retail giant Cosco came to audit Open Country Dairy’s new butter plant at the Waharoa site and give the green light to supply their American stores, they allowed themselves a week for the exercise.

Tanker on the roll

Seen a giant cheese roll rolling along Southland’s roads?

Featured

Editorial: Drones Are Not Toys

OPINION: David Seymour and James Meager's plan to make it easier for farmers and orchardists to operate drones can best be described a 'courageous' move.

Lanaco and Blueair Launch World-First NZ Wool Air Filter

New Zealand wool is reaching new heights as air filtration companies move away from synthetic products to biodegradable alternatives.

Opuha Dam Commissions New Valve in Major Flood Safety Upgrade

Opuha Dam's ability to protect South Canterbury communities from major flooding has taken a significant step forward, with Opuha Water Limited (OWL) successfully commissioning a new outlet valve capable of releasing record volumes of water from the dam ahead of a weather event.

Freshwater Farm Plan Changes Welcomed by Primary Sector

There's been widespread support from the primary sector for the Government's announcement on changes to freshwater farm plans that come under the Natural Environment Bill, which is now set to replace the existing RMA.

Pāmu and Meet the Need Launch Mince Recipe Cards for Food Banks

A partnership between state-owned enterprise Pāmu (Landcorp Farming Limited) and charity Meet the Need is putting more than quality New Zealand beef into food bank parcels this year.

Daniel Eb Defends Opportunity's Approach to Rural NZ

The Opportunity Party has faced criticism during the election campaign that its policies are too urban-focused and offer little for rural communities.