As part of the BC Milk Marketing Board’s effort to continually review and update its various policies and operations, the Board has taken action to update the Producer Advance Pricing calculation. The Minimum Advance Payment calculation is meant to provide for an advance payment of 50% of the producer’s net amount paid for the entire month. Based on the current review, it was determined that the actual advance payment should be based on a rate of 90%, instead of 95%, of the litres/kilograms.
The Producer Advance Pricing calculation is now posted in the MMS Producer Portal in the “Producer Notifications” area and has been updated from the previous Consolidated Order methodology in one small way: in both the hectolitre and kilograms of butterfat calculations, the “B” methodologies have been changed to calculate these amounts based on 90% of the litres/kilograms.
This pricing change only impacts the timing of payments made to producers and does not impact the overall payments made to producers in any production month.
If you have any questions about this notice, please contact Dan Poelman at 604-854-4473 or dpoelman@bcmilk.com
MINIMUM ADVANCE PAYMENT
EFFECTIVE August 1, 2020
