Bega Cheese has announced a 12.8% increase in Victorian opening milk prices for the 2019/2020 season of $6.60 per kg milk solids.
Bega opened this last financial year with $5.85 kg.
Bega says with its Supply Premium, suppliers can earn up to $6.77 per kg milk solids.
Bega CEO, Paul van Heerwaarden said Bega is continuing to offer northern Victorian suppliers an irrigation supplement of $0.20 per kg milk solids.
Bega Cheese will formally introduce new '9/3' payment system with a $0.50 per kg milk solids price differential between Spring and out of Spring months.
"This is a simple payment system that will encourage farmers to look at their farming business and produce milk when it best suits their operations.''