Tuesday, November 10, 2020

Dairy Commission to hike prices

Industrial milk prices will go up by $1.46 per hectolitre on Feb. 1, the Canadian Dairy Commission said Monday.

The support price for butter will increase from $8.5534 to $8.7149 pre kilogram, but dairy commission storage rates remain unchanged.

The commission ignored the pricing formula  because of the COVID-19 disruptions and made its own decision after consulting industry stakeholders.

“The rise in producers’ revenues will partially offset losses incurred due to the COVID-19 pandemic and market trends which have caused revenues to remain below the cost of production,” it said.