A new pricing tool for dairy farmers will bring much-need transparency to the Australian milk market, says its developer.
Independent milk services company Milk2Market says its free calculator provides farmers with a transparent and credible source of farm gate milk prices and payment information.
Commercial development general manager Richard Lange said the tool used publicly available data and allowed farmers to compare payment structures and pricing based on their individual farm system.
‘‘Members across the supply chain, as well as government and regulators, have been calling for greater price transparency in the dairy industry,’’ Mr Lange said.
‘‘Our goal is to make buying and selling milk better for everyone.’’
The free tool gives farmers a customised gross annual income estimate based on processor prices in the region.
Another platform, called Milk Exchange, will be released later this year and allow registered users to buy and sell milk directly via an online platform.
‘‘We expect the calculator tool will help buyers and sellers gain a better picture of the market ahead of trading on the new milk exchange,’’ Mr Lange said.
The Milk Price Calculator compares milk payments of major selected companies in Victoria and NSW and was officially launched at the UDV Conference on Friday.
■For more information and to access the calculator, visit: milk2market.com.au/milkcalculator