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ABARE
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Australian Bureau of Agricultural and Resource Economics
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ACCC
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Australian Competition and Consumer Commission;
Australia's trade practices authority
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Bargaining group
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Group of farmers who bargain collectively rather than
individually with a processor
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Branded milk
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Milk sold under the processor's brand name
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Cascading
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Practice of a number of firms successively setting prices
based on other firms' prices
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Cooperative
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Processor jointly owned by a group of farmers
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cpl
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Cents per litre
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DairyTas
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Tasmanian service delivery arm of Dairy Australia,
investing farmer levies and other funds to support the Tasmanian Dairy
Industry
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Drinking milk
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Milk sold for drinking as opposed to having been used to
make butter or cheese
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Elastic
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More responsive to price changes
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Farmgate price
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Price paid by processors to farmers
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Food security
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The physical availability and access to food as well as
its affordability
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Generic milk
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Milk sold in supermarkets under the supermarket's brand
name
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Home brand
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Another term for 'generic milk'
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Loss leader
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Product sold below cost to attract customers into a store
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Market milk
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Raw milk used to make drinking milk
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Manufacturing milk
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Raw milk used to make cheese, butter, yoghurt etc
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Monopsony
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A market situation where there is a single buyer of a
product or service from a large number of sellers
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NARGA
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National Association of Retail Grocers of Australia;
industry body representing small grocery stores
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Permeate
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Milk that has been filtered through a very fine ‘sieve’ to
separate the milk-sugar (lactose) and minerals from the milk protein
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Price discrimination
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Charging different prices to different buyers
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Private label
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Another term for 'generic milk'
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Processors
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Manufacturers who make dairy products from raw milk
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Slotting fee
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Payment by processor to supermarket to have their product
displayed prominently in supermarket stores
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Step down
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Feature in a contract between processor and farmer when
under certain conditions the price paid will be increased
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Step up
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Feature in a contract between processor and farmer when
under certain conditions the price paid will be increased
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TIAR
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Tasmanian Institute of Agricultural Research
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TPA
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Trade Practices Act, legislation governing
competition in Australia
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Waterbedding
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Situation when a buyer with market power forces down the
price they pay and this forces up price charged to other buyers
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Wholesale price
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Price paid by supermarkets to processors. Differs between
generic and labelled milk.
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