#Asian Dairy Demands Drive Bidding War over Warrnambool
The race to satisfy Asia’s increasing appetite for dairy foods has made the oldest Australian dairy producer the target of a bidding war. Saputo Inc. (SAP), Canada’s largest dairy processor, agreed to pay $372 million for Warrnambool Cheese & Butter Factory Co. (WCB), topping a bid from Bega Cheese Ltd. (BGA).
#Aussies have been slow to pick up on Asia's growing appetite
AT yesterday’s bid price of $393 million, Warrnambool Cheese & Butter is an afternoon snack for Canadian dairy conglomerate Saputo, which has long wanted an Australian foothold to supply booming Asian markets.
#Australian Dairy Mergers Gather Pace
The competition to supply Asia’s growing appetite for dairy got hotter Thursday with Bega Cheese Ltd.’s BGA.AU +5.71% 319 million Australian dollar (US$298 million) bid for Warrnambool Cheese & Butter Factory Co.WCB.AU +27.94%
#Amul sells 6,000 tonnes of milk products in global online auction
Amul has sold 6,000 tonnes of products through global online auctions in the past two months, as the country’s biggest dairy brand aims to double exports this fiscal year.
#Australian farmers lag behind global dairy surge
A surging global milk market is starting to affect the domestic trade, with record new season prices for Australia’s dairy farmers.
#Dairy Australia Fortnightly Update
AUSTRALIA – Milk production is expected to reach 9.35bn litres in 2012/13—down 1.4 per cent on 2011/12 output of 9.48bn litres, according Dairy Australia in their recent outlook report.
#Chinese tighten testing of infant milk formula
Chinese authorities are forcing infant milk formula makers to comply with new testing, that’s proving costly for dairy exporters.