Raw milk

New Zealand farming giant Fonterra said on Sept. 1 that it plans to slash around $598 million in costs over the next seven years following a fall in global dairy prices.

Chief executive Miles Hurrell foreshadowed future job cuts, saying the "focus on efficiencies will have implications for staff numbers."

Livestock breeding in Bulgaria is on the verge of bankruptcy, warned representatives of organizations in the sector.

At a general meeting, they requested a meeting with the president, the acting prime minister and the finance minister, but such a meeting has not yet been set.

Livestock breeders are also ready for effective protests.

Raw milk production decreased by about 10 percent last October compared to the previous year due to the increased costs.

Due to the low selling price in the face of costs throughout 2022, the producers sent their milk-producing animals to slaughter.

The price of dairy products in Bulgaria is rising and this trend will continue in the coming months. This was announced on radio "Darik" by the chairman of the Association of Dairy Processors in Bulgaria Dimitar Zorov.

Bulgarian milk producers have threatened protest action on March 24 over the farmgate prices of their produce which they see as too low, BGNES reported on Monday.

Meeting in Stara Zagora, in southern Bulgaria, milk producers have also asked the prosecuting authorities to launch a probe of a suspected cartel agreement among milk processing factories.

Dairy producers in Bulgaria have warned about a wave of bankruptcies in the sector.

Sales of cheese, yellow cheese, butter, and other dairy products have slumped by 30%, with Bulgarian products languishing in storage facilities, according to reports of private TV station Nova TV.

Bulgaria's food industry has suffered an estimated BGN 12 M (EUR 6 M) in damages as a result of Russia's ban on food imports from the EU, Agriculture Minister Desislava Taneva has said.