CWT Assists with 7.9 Million Pounds of Cheese Export Sales
Source: Cooperatives Working Together
Cooperatives Working Together (CWT) accepted eight requests for export assistance in the last two weeks from Bongards Creamery and Dairy Farmers of America to sell a total of 3,580 metric tons (7.893 million pounds) of Cheddar cheese to customers in the Asia, the Middle East, Central America, Europe and the South Pacific. The product will be delivered August through December.
In 2011, CWT has assisted members in making export sales of Cheddar, Monterey Jack and Gouda cheese totaling 26,136 metric tons (57.6 million pounds) to 20 countries on four continents. An earlier accepted bid for 500 metric tons was cancelled.
Assisting CWT members through the Export Assistance program positively impacts producer milk prices in the short-term by reducing inventories that overhang the market and depress cheese prices. In the long-term, CWT’s Export Assistance program helps member cooperatives gain and maintain market share, thus expanding the demand for U.S. dairy products.
CWT will pay export bonuses to the bidders, only when delivery of the product is verified by the submission of the required documentation.
The Cooperatives Working Together (CWT) Export Assistance program is funded by voluntary contributions from dairy cooperatives and individual dairy farmers. The money raised by their investment is being used to strengthen and stabilize the dairy farmers’ milk prices and margins. For more information about CWT, visit www.cwt.coop.
