Bega Cheese’s executive chairman, Barry Irvin, advises milk suppliers to expect a delayed recovery in farm gate milk prices. Despite recent pricing challenges, Bega Cheese celebrates its 125th anniversary with significant growth and ongoing sustainability initiatives in the Bega Valley.
Bega Cheese, a leading Australian dairy company known for its extensive range of dairy products and significant industry presence, is advising its milk suppliers to be patient regarding the recovery of farm gate milk prices. Barry Irvin, the company’s executive chairman, recently addressed the industry’s concerns about the lower opening milk prices for the 2024-25 season compared to the previous year’s higher levels. Irvin acknowledged the challenges faced due to the ongoing downward trend in global commodity prices, which have not yet shown substantial improvement.
Irvin explained that while Bega Cheese enjoyed strong pricing in recent years, the rates observed last year were driven more by intense competition for milk rather than global market conditions. A notable recovery in prices might not occur until later in this financial year or possibly into the first half of the next calendar year.
125 Years of Growth and Expansion
Despite the current challenges, Bega Cheese is celebrating a significant milestone with its 125th anniversary. The company, which began as a small milk co-operative, has grown into a major player in the dairy and food industries under Irvin’s leadership. Revenue has surged from $1 billion to $3.3 billion over the past decade, fueled by strategic acquisitions, including Vegemite and Bega Peanut Butter in 2017 and Lion Dairy and Drinks in 2021. Bega’s brand portfolio now includes well-known names such as Dairy Farmers, Dare, Farmers Union Greek Style Yogurt, Pura, Big M, and Daily Juice.
Driving Sustainability Initiatives
In addition to its growth, Bega Cheese is leading sustainability efforts in the Bega Valley. The company’s Regional Circularity Co-operative (RCC) and ‘Bega Circular Valley 2030’ program aim to transform the region into Australia’s most circular regional economy by 2030, focusing on resource efficiency and environmental impact reduction. Irvin emphasized the company’s commitment to sustainability, highlighting the collaborative effort involving local communities, businesses, and all levels of government to optimize resource use across the region.
