14 August 2014
Norco has begun to capitalise on Asia’s fast-growing middle class, with the co-op flying fresh milk directly to Shanghai and fetching $8 to $9 a litre. Norco is now exporting 16,000 litres a week to China.
Norco CEO Brett Kelly said:
“Our objective in the next 12 months is to build up slowly and very carefully,” Mr Kelly said. “In the long term we want to create a viable, sustainable market, that we can get a fair price for our milk.”
Agriculture Minister Barnaby Joyce has applauded Norco’s efforts and said it could trigger the end of $1 a litre milk in Australia because more farmers will sell their milk to export rather than domestic markets.
Source: Business Review Weekly, How the Chinese are paying $9 a litre for milk from NSW co-op Norco, 13 August 2014
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