UK: Dairy prices up, producer prices down

Published 2023년 5월 22일

Tridge summary

The UK Office for National Statistics has reported a significant increase in dairy prices, with hard cheese and cheddar seeing the highest rise of 44% and 42% respectively, followed by semi-skimmed milk, whole milk, soft cheese, and butter which saw a increase of 30% or more. Despite a 10.1% inflation rate, food and drink prices rose by 19.1% in March, the fastest annual rise since 1977. This increase in dairy prices is due to high energy, water, and housing inflation in the food supply chain. Additionally, milk prices are under pressure due to falling farmgate milk prices and high input costs. Major buyers like Muller and Credition have announced reductions in milk prices, and further pressure is expected in the next few months with rising seasonal milk production and falling wholesale dairy prices.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Updated on 05/16/2023 Farmer milk prices remain under pressure in the UK as seasonal production increases in the face of sluggish demand. A free comparison tool launched by the UK Office for National Statistics (ONS) provides consumers with insight into how dairy prices have increased compared to 2022. From hard cheese to butter, milk and baby formula, all dairy prices monitored by the ONS have seen double-digit increases since last year. Hard cheese (44%) and cheddar (42%) saw the biggest price increases, averaging £9.98 ($12.61) and £9.29 ($11.74) per kilo, respectively, compared to £6.92 ($8.74) and £6.53 ($8.25) last year. Increases of 30% or more were also recorded for semi-skimmed milk, whole milk, soft cheese and butter. Meanwhile, Parmesan cheese and infant formula saw more moderate increases of 11% and 12% respectively. Combined, dairy saw an annual price increase of £14.31 ($18.08) – a 23% increase in 2022. Inflationary pressures continue to put pressure on the supply ...

Source: Milkpoint