3 May 2024
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Bega profit down 59% amid milk supply woes

Bega Cheese says fierce competition and diminishing milk supply has curdled its full-year result, but insists a processing overhaul has improved its prospects in the face of further industry challenges.

Milk, cheese, and baby formula – mooing for more

Bega Cheese (BGA, $4.69) CEO Barry Irvin believes the change is more structural – it will endure long after the rain starts falling again. This emerging milk scarcity is moulding the strategy of the country’s only listed scale processor that sources 1.1 billion litres of milk – 10% of total supply – annually.