ABARES/ABARE

Australian Bureau of Agricultural and Resource Economics and Sciences (previously the Australian Bureau of Agricultural and Resource Economics)

ACCC

Australian Competition and Consumer Commission

ADIC

Australian Dairy Industry Council

AFGC

Australian Food and Grocery Council

Bargaining group

A group of farmers who bargain collectively rather than individually with a processor

Branded milk

Milk sold under the processor's brand name

CCA

Competition and Consumer Act 2010; legislation governing competition in Australia

Co-operative

Processor jointly owned by a group of farmers

cpl

Cents per litre

DFMC

Dairy Farmers Milk Co-operative

Drinking milk

Milk sold for drinking as opposed to having been used to make butter or cheese

Elastic

More responsive to price changes

Farm gate price

Price paid by processors to farmers

Generic milk

Milk sold in supermarkets under the supermarket's brand name

GSCOP

Groceries Supply Code of Practice; a code of conduct that deals with contracts between supermarkets and suppliers in the United Kingdom

Home brand

Another term for 'generic milk'

Inelastic

Less responsive to price changes

Loss leader

Product sold below cost to attract customers into a store

Market milk

Raw milk used to make drinking milk

Manufacturing milk

Raw milk used to make cheese, butter, yoghurt etc

Milking it for all it's worth

The May 2010 report of the Senate Economics References Committee's inquiry into competition and pricing in the Australian dairy industry

NARGA

National Association of Retail Grocers of Australia; industry body representing small grocery stores

Permeate

A product obtained from milk that has been filtered through a very fine ‘sieve’ to separate the milk-sugar (lactose) and minerals from the milk protein which may be added to milk to standardise natural variations in fat and protein

PGICAC

Produce and Grocery Industry Code Administration Committee; administers the Produce and Grocery Industry Code of Conduct and consists of key representatives in the produce and grocery industries with an independent chair

Price discrimination

When a firm charges a different price to different persons or groups of persons for identical goods or services for reasons not related to costs

Private label

Another term for 'generic milk'

Processors

Manufacturers who make dairy products from raw milk

TPA

Trade Practices Act 1974; previous legislation governing competition in Australia, replaced by the CCA.

Wholesale price

Price paid by supermarkets to processors. Differs between generic and labelled milk.