WA’s premier lamb and sheepmeat producers’ cooperative, WAMMCO International is preparing to distribute a record $1.8 million in bonuses and shares to its producer members in early August.
WAMMCO chairman Dawson Bradford said the distribution was almost double the previous record $1 million paid out in the 2007 and 2008 years.
The record bonus entitlements are based on an extra 40 cents per kg on lambs and 20 cents per kg on mutton, delivered on a weight and grade basis to the cooperative.
“The decision recognises the heavy cost to producers during the past season, of low export prices for lamb due to a high A$, limited demand and oversupply, which forced our average payment for WA lamb well below the previous year.
“More buoyant export conditions in the second half and a strong contribution from our new Southern Meats processing facility at Goulburn NSW, turned the tables enabling the directors to approve bonus payments to lift the average producer payment on lamb to $4.08 per kg and by 20 c/kg on mutton.
“We believe this is the correct function of a cooperative, - rewarding members, by assisting them to make the best of every season, Mr Bradford said.
“Northern rangeland producers of Damara type fat tail sheep and lambs who recently joined us as members in the quest for a viable alternative to live export markets, will also share in the disbursements,” he said.
“Bonuses are normally distributed in December, but we have brought these entitlements forward to August, as we recognise the rapidly escalating economic and seasonal difficulties now confronting sheep and lamb producers in WA.”
Mr Bradford said WAMMCO had also finalised its purchase of the Southern Meats abattoir in Goulburn, NSW.
“The emerging synergies of our new combined east/west lamb and mutton processing and marketing operations are most pleasing with the product being very well received by our global customers as well as our members.
“For the first time since WAMMCO was formed under highly testing circumstances nearly 15 years ago, I think we can say the cooperative is now well positioned to reliably and effectively serve the future interests of its members,” Mr Bradford said.
Further Details: Dawson Bradford 9887 7055 mobile 0407 470 553, Coll MacRury 0409 371295, Media Geoff Gare 0414 683 531.
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