Cooperatives Working Together (CWT) accepted announced today that it has accepted one bid from Dairy Farmers of America, Inc. for 110,231 pounds, or 50 metric tons, of cheddar cheese to the Middle East. The product will be delivered in September.
Since CWT reactivated the Export Assistance program on March 18, it has assisted members in making export sales of cheddar, Monterey Jack, and Gouda cheese totaling 39 million pounds (17,695 metric tons) to 22 countries on four continents.
The Export Assistance program was reactivated when economic analysis indicated that sizeable cheddar cheese inventories overhanging the market are hampering a recovery in producer milk prices. Assisting CWT members in exporting American-type cheeses provides the most immediate way to positively impact producer milk prices in both the short-term and the long-term.
CWT will pay export bonuses to the bidders only when delivery of the product is verified by the submission of the required documentation.
Source: Cooperatives Working Together