Money, Stock quotes & Economic :: Market news

Dairy giant murray goulburn face grilling by malcolm turnbull and barnaby joyce in canberra today




INFLUENTIAL Senator Nick Xenophon has called on the Turnbull Government to introduce a temporary levy on milk prices and bring back the school milk program in a bid to prop up Australia’s embattled dairy industry.

Prime Minister Malcolm Turnbull and Deputy Prime Minister Barnaby Joyce today met with the board of the nations biggest producer Murray Goulburn, amid fears the industry crisis is deepening.

In a joint statement released this afternoon, Mr Turnbull and Mr Joyce said the intended to look after the suppliers.

There can only be strong and profitable dairy processors if we have strong and profitable dairy farmers, the statement said.

Australias dairy farmers deserve fair returns at the farm gate, as well as transparency in milk price arrangements and supply contracts.

It is important Murray Goulburn can explain to their suppliers what steps they will take to support farmers and restore confidence to the dairy sector.

It said the Turnbull Government would meet with Fonterra next week. The Coalition Government will also consider the outcomes of investigations by ASIC and ACCC into the Murray Goulburn and Fonterra decisions, the statement said

Earlier, Senator Xenophon said dairy farmers were currently being asked to pay for the privilege of milking their own cows, which he described as an absurd situation.

We should be looking at either a temporary levy in the short term to ensure that dairy farmers dont walk off the land and that should be part of a robust, systemic, independent look at the dairy sector, he said.

Clearly, it appears to be verging on market failure given what has occurred.

Senator Xenophon also called for the school milk program to be reintroduced, suggesting his home state of South Australia as a potential trial site.

The school milk program was introduced in the 1950s.

Senator Xenophon said bringing it back would have the double benefit of improving childhood nutrition and boosting the dairy industry.

Earlier, Mr Joyce said he would not pre-empt the meeting, expected to take place in Canberra this afternoon, but would not guarantee farmers debts would be written off.

If we wipe out the debts and Murray Goulburn collapses that is not success, he told the ABC.

So we have to work out, obviously we want to make sure they get a proper price for their milk as quickly as possible.

We want to work out how we do that, that is both legal and also manages to maintain the viability of Murray Goulburn.

ABCs Four Corners program last night revealed in April Murray Goulburn the nations biggest milk processor dropped the price it paid farmers for milk solids by $1 per kilogram.

The program claimed this price reduction was implemented retrospectively, meaning farmers were left with debts.

It said Murray Goulburn was making losses even before it lowered milk prices.

And it comes as dairy farmers consider leaving the industry because they are struggling to make ends meet.

During the election campaign the Turnbull Government announced a $555 million concessional loan program to assist farmers supplying to Murray Goulburn and Fonterra.

The ABC reports just 48 applications had been received.

Is milk really a super food?

On woolworths new bws website you can search for booze using slang words




WE’RE all used to online shopping these days. But one of the annoyances of the whole experience is having to type in the names of each product, you know, correctly. Right?

Spelled correctly, no colloquialisms and the official names. Its all so tiresome.

Well, it seems, Woolies have listened and have launched a new shopping website where using slang is no barrier to getting what you want.

The new BWS booze website, owned by Woolworths, launched earlier this week and it allows you to do all the normal things like get copious amounts of beers, wines and spirits delivered.

But if youve got a craving for a Queensland rum and typing the entire word Bundaberg seems too much like hard work, or youre too drunk to form words, fear not. Simple typing Bundy will do the trick.

Whereas most alcohol websites will come up with a blank if you type in goon, theres no such concerns on the BWS website.

Search for goon and you will get pages of the finest, most exquisitely tasting, cask wine you can buy.

Fancy some bubbles? No problem, type it in and a fulsome list of champagnes and sparkling wines will appear.

It appears to be part of a new found embrace of the funnies by Woolworths which last month caused chuckles when it produced a video on how to produce a recipe previously found only in the Simpsons.

Woolworths is being tight lipped about its embrace of Australianisms and of humour in general. Try as it might, the retailer couldnt explain where its embrace of the eccentric had come from.

Rival Coles doesnt seem to be following in Woolworths lazy language slipstream.

Searches of the First Choice and Liquorland website came up with nothing when bubbles, goon or Bundy were searched for.

First Choice even wondered if goon was a spelling mistake and what was really desired was Grey Goose vodka. Silly.

Woolies witty side has particularly come to the fore on its Facebook page where it has taken to breaking up offers for cheap tomatoes with distinctly silly videos.

To mark the current craze of the Mannequin Challenge, Woolworths has produced a video filmed on one of its stores of customers frozen in time dropping blueberries, throwing Christmas pads at each other and using bananas as fake moustaches.

Memes of angry toddlers furious at the lack of Weet-Bix in the house have replaced the usual exhortations of good value.

While the aforementioned Simpsons inspired video, where stand-up comedians Michael Hing and Will Erimya attempt to make a smoked ham, has been watched a cool half a million times.

But there are some limits to the BWS websites search capabilities. Kath and Kim would have a dry night as a Chardy search reveals nothing.

For a website dedicated to grog using the term grog will leave your basket boozeless. Sauce? Silence. Turps? Total absence of anything.

Five buck chuck? Chuck all.

And sadly, while goon is all good, Australias favourite combination of sport and booze is also missing.

The website states, No results for Goon of Fortune. And they were doing so well.

Starbucks is not the only business making a foray into the booze industry. MarketWatch's Tom Bemis has five surprising and strange places you can toss back a cold one. (Photo: Getty Images)