In an interview marking Bega Cheese’s 125th anniversary, executive chairman Barry Irvin noted the disappointment with the low opening prices for the 2024-25 season compared to last year.
“We have had two strong years of pricing, and probably last year was not reflective of global markets but it did reflect the strong competition for milk,” Mr Irvin said.
“I have to say we would have expected global commodity prices to have begun to improve a little more than they have over the last few months.
“We have been seeing a downward trend for some time.
“We still expect an improvement ... but it’s probably likely to be a little later in the financial year we are currently in, or late in the first half of the next calendar year.”
The Bega Group — the owner of Tatura Milk and the Strathmerton cheese factory, one of the largest processed cheese manufacturing facilities in Australia — has marked the 125th anniversary with some celebrations around the Bega Valley.
For most of the past century, the milk co-operative enjoyed modest growth, but in the past 10 years, thanks to an energetic expansion policy under Mr Irvin’s stewardship, the company revenue has increased from the $1 billion mark to $3.3 billion.
Their brands include the iconic Vegemite and Bega Peanut Butter, acquired in 2017, as well as Dairy Farmers, Dare, Farmers Union Greek Style Yogurt, Farmers Union Iced Coffee, Pura, Masters, Big M, Daily Juice, Zooper Dooper, Mildura, Prima and others through the 2021 acquisition of the Lion Dairy and Drinks business.
The company is leading the Bega Valley’s push to improve sustainability with a Regional Circularity Co-operative (RCC) and the ‘Bega Circular Valley 2030’ program, aiming to make the Bega Valley the most circular regional economy in Australia by 2030.
“Can we get better outcomes in terms of costs, or better environmental outcomes,” Mr Irvin said they were asking.
“Can we use our resources better? It’s a heavy duty collaboration with the community and all levels of government.
“It’s a way of thinking about your entire community.”
Mr Irvin talks about Bega’s past and future, and what energises him in his key position, in a podcast recorded by Country News.
After almost 25 years as chairman, is he expecting a tap on the shoulder?
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