Cooperatives Working Together announced Tuesday that it has accepted a bid from Dairy Farmers of America of Kansas City, MO, to export 126 metric tons (approximately 277,000 pounds) of cheddar cheese to South Korea. CWT will award the agreed-to export bonus to the bidder, once completion of the cheese shipment is verified.
This is the first export assistance bid accepted by CWT since this past August. This is the fourth CWT-assisted export in a row that is destined for South Korea.
This accepted bid increases CWT’s total cheese exports since it began operations two years ago to 4,314 tons (or 9.5 million pounds). Previous shipments facilitated by CWT’s export assistance program have gone to Algiers, Croatia, Egypt, Japan, Jordan, the Netherlands, Saudi Arabia and South Korea.
Through CWT’s Export Assistance program, exports occur as overseas buyers are found for the products, and as CWT’s members bid to be compensated for selling cheese and butter to those importers.
Cooperatives Working Together is being funded by dairy cooperatives and individual dairy farmers, who are contributing 5 cents per hundredweight assessment on their milk production through December 2006. 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.