No is­sue with $1 milk for­mer Coles boss says

Central and North Rural Weekly - - NEWS -

WESFARMERS chief Richard Goy­der has “no is­sue” with $1 a litre milk, say­ing Coles’ sup­pli­ers were sub­se­quently paid more and money went back to farm­ers.

The out­go­ing man­ag­ing di­rec­tor also crit­i­cised the nu­mer­ous in­quiries into the price of milk, ar­gu­ing what the dairy in­dus­try needed was bet­ter in­fra­struc­ture and ef­fi­ciency.

Mr Goy­der will this month stand down after 13 years at the helm of Wesfarmers, the owner of Coles su­per­mar­kets.

“If you went out­side now and asked peo­ple, ‘Would you buy $1 milk or $1.20 if 20 cents went back to the dairy farm­ers?’, 100 per cent of them will tell you, ‘No, I’ll buy it at $1.20’,” he said.

“I’ll tell you, when they go to the su­per­mar­ket, they buy the $1 (milk).”

Mr Goy­der, who grew up on a wheat and sheep farm in West­ern Aus­tralia, spear­headed the $19.3 bil­lion ac­qui­si­tion of Coles in 2007 and was well aware of the farmer back­lash to the su­per­mar­ket gi­ant’s “Down Down” and $1 milk cam­paigns.

“At the end of the day I don’t have an is­sue with what we did (on $1 milk) be­cause ... sub­se­quently we paid the pro­ces­sors who sup­ply us with milk more,” Mr Goy­der said.

MILK PRICE: The man who spear­headed the $1 milk cam­paign has no re­grets.

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