CWT accepts export assistance bids

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 Cooperatives Working Together announced today that it accepted an export assistance bid last week for the sale of cheese, and another for the sale of anhydrous milkfat.

Both bids are from Dairy Farmers of America, Kansas City, Mo. The first bid is for the export of 165,000 pounds (75 metric tons) of Cheddar cheese to South Korea. The second bid us for the export of 294,800 pounds (134 metric tons) of anhydrous milkfat to Mexico.

CWT will pay an export bonus to the bidder, once completion of the cheese and milkfat shipments is verified.

These accepted bids increase CWT’s year-to-date export obligations for cheese to 11.2 million pounds (5,053 metric tons), and its YTD anhydrous milkfat export obligations to 4.49 million pounds (2,039 metric tons).  In addition, CWT’s YTD butter exports stand at 12.9 million pounds (5,882 metric tons), and its YTD whole milk powder exports are 3.8 million pounds (1,738 metric tons).  Since the program started in 2003, CWT has helped export 600 million pounds, milk equivalent.

Previous shipments facilitated by CWT’s export assistance program have gone to Algeria, Barbados, Denmark, the Dominican Republic, Egypt, El Salvador, Germany, Guatemala, Honduras, Hong Kong, India, Indonesia, Israel, Japan, Jordan, Kuwait, Lebanon, Mexico, Morocco, the Netherlands, Nicaragua, Oman, Qatar, Panama, Romania, Russia, Saudi Arabia, Singapore, South Korea, Taiwan, Trinidad, Tunisia, Turkey, the United Arab Emirates, and Vietnam.

Through CWT’s Export Assistance program, transactions occur as overseas buyers are found for the products, and as CWT’s members bid to be compensated for selling cheese, butter, anhydrous milk fat and whole milk powder to those importers.

Cooperatives Working Together is being funded by dairy cooperatives and individual dairy farmers, who are contributing 10 cents per hundredweight assessment on their milk production through December 2007.  The money raised by CWT’s investment is being apportioned among several supply reduction programs to improve the national all milk price. For more on CWT’s activities, visit www.cwt.coop.

CWT Press release

 



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