The social investment firm Ulupono Initiative, funded by tech billionaire Pierre Omidyar, is looking to purchase Cloverleaf Dairy on the Big Island, one of Hawaii’s last two remaining large-scale dairies and the only one owned by a Hawaii resident.
Cloverleaf Dairy’s owner Ed Boteilho complained earlier this week that he might go out of business if the state moved forward with relaxing rules governing how much money Boteilho should receive for producing milk.
But the Board of Agriculture approved the amendment to allow dairies to waive the price floor, bowing to pressure from the state’s only milk processor, Meadow Gold Dairies, which threatened to stop buying locally produced milk if the prices didn’t drop.
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