RC 261014702Stephen Grootes
Wednesday, 14 October 2026
Dairy farmers face a looming price squeeze after Lactalis moved to cut milk prices, while Kosatu elected new leadership and IOCO reported a sharp profit rise on modest revenue growth.
- 18:19
Lactalis, which owns Danone, wants to cut the price it pays dairy farmers for milk by more than 10% over the year, a move the Milk Producers Organization says is of great concern.
- 18:20
An average dairy farmer milks about 700 cows, and one large farmer faces a potential loss of R12 million if the cut continues for a year, according to the Milk Producers Organization.
- 18:22
Lactalis is so far the only buyer to cut prices, but the organisation fears other buyers could follow, as usually happens when one buyer drops its price.
- 18:32
Mike Shingange was elected Kosatu president and Zingiswa Losi general secretary, with Shingange calling on members to help rebuild the federation after a decline in membership.
- 18:56
IOCO grew profit after tax 39% to R357 million for the year to July on revenue up just 3%, after cutting about R480 million in costs over two years, CEO Rhys Summerton said.