It said pandemic-era debt, high interest rates and operating costs, and uncompetitive milk prices had forced it into the decision.
dairy Beston Global Food Company has gone into voluntary administration after a Japanese takeover offer for one of its factories fell through.
"An unintended consequence of the Australian Dairy Code legislation introduced in 2019 has been to keep farmgate milk prices at high levels and disconnected from the global prices of dairy commodities... The decision to appoint KPMG as voluntary administrators on Friday came immediately after Japanese brand Megmilk Snow Brands withdrew its offer to take over Beston's dairy factory in the South Australian town of Jervois.
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