#MilkedDry

This month, the two biggest dairy companies in Australia, Murray Goulburn and Fonterra, have dropped their milk prices to a level that local farmers fear will send them broke. During the financial year farmers had been paid $5.60 but following Murray Goulburn’s announcement, they will only receive between $5.00 and $4.75. Fonterra followed suit and cut their prices down from $5.60 to $5.00. This means that farmers will be paying 38c per litre to make milk that will be bought for 37c per litre. In addition, these price changes are retrospective. Therefore, the farmers are suddenly being told they owe Murray Goulburn an average debt of $120,000 which may send many broke. Currently Murray Golbourn is facing a shareholder class action and investigation by ACCC.

http://www.smh.com.au/entertainment/waleed-aly-wants-you-to-buy-australian-dairy-in-the-greatest-call-to-arms-i-have-ever-made-20160517-goxhh4.html

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