Hi,
Welcome to the Forum.
As a result, the cow's milk is highly desirable for cheese production and consequently, the Bass Strait Dairy Company is internationally recognised for its award winning, premium produce.
I would like to know, is it grammatically correct? Yes, but see the following comments about punctuation.
If yes,
1.)why the comma is right after the "consequently" not before the "not"?? What 'not'? Do you mean 'and'? I wouldn't put a comma after 'consequently' in this sentence. I 'd put one before 'and' in order to make it easier for the reader to see the meaning.
I f you really want to put a comma after 'consequently', put one before it as well.
I don't like the use of both 'as a result' and 'consequently' in the same senetnce like this. It's not good style.
2.)What kind of clause of the "premium produce" is?? Additional clause? It's not a clause at all. The writer just put a comma between 'award-winning' and 'premium' because he saw these words as adjectives. I'd write it as
As a result, the cow's milk is highly desirable for cheese production, and consequently the Bass Strait Dairy Company is internationally recognised for its award-winning premium produce.
Best wishes, Clive