Flood-ravaged dairy cooperative Norco delivers $9.1m profit while paying farmers record milk price

Despite a catastrophic flood forcing it to shut its ice cream factory in early 2022, Norco has delivered a $9.1 million profit for 2022-23 — up $0.2 million.

It has done so while paying its farmers a record milk price for the dairy cooperative of 87.08 cents per litre, with the increase costing an additional $30 million.

"Our farmers needed that price increase, they deserve that price increase and it was great that being the cooperative in the region, we were able to drive that for our members and for other dairy farmers in the region also," chief executive Michael Hampson said.

Mr Hampson acknowledged the past two years had been difficult and significant changes had been made to the business as a result.

Kim Honan, ABC Rural, 19 October 2023.

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