Murray Goulburn has released a statement this morning announcing the company has entered into agreements “to sell the Kiewa Country Milk brand and certain associated assets to a local business that is expected to recommence local manufacture in the future.”

The news comes as MG releases its latest ASX update, revealing  MG’s total FY18 milk intake is expected to be approximately 2.3 billion litres.

This update also read: “If the recent strengthening of the Australian dollar was to continue over the full financial year, this could create some uncertainty in relation to the achievability of $5.50/kg MS (milk solids)”.

More to come.