Canadian Dairy Commission postpones farmgate milk price hike

Dairy

Canada

Market & Price Trends

Published Nov 3, 2023

Tridge summary

The Canadian Dairy Commission (CDC) has announced a 1.77% increase in the cost of milk used in dairy products, which was set to take effect in February 2024. However, industry voices have urged the CDC to delay the price hike. The increase, which will raise the average cost of milk by CAD$0.0153 per litre, is now scheduled to be implemented from May 1, 2024, following stakeholder consultations.

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Original content

The adjustment, representing an increase of 1.77% was set to come into force in February 2024, but industry voices have insisted the CDC to hold the price for the time being. The adjustment means the cost of milk used to make dairy products such as milk, cream, yogurt, cheese and butter for the retail and foodservice sectors will increase by an average of CAD$0.0153/litre. On November 1, the Commission announced the increase would apply from May 1, 2024 instead following stakeholder consultations. “Like most Canadians, dairy farmers have been feeling the pressures of inflation,” the CDC said in a statement. “Despite stabilizing feed, fuel and fertilizer costs, producer gains were offset by higher interest rates. “The CDC is grateful to the following stakeholders for their contribution to the annual milk pricing process: Dairy ...

Source: Dairyreporter