Arla Foods Announces Price Increase for Conventional and Organic Milk Amid Stable Global Supply
Source: The DairyNews
Arla Foods has announced an increase in the on-account price for conventional milk by 0.81 pence per litre (1.0 €c/kg) starting from July 1, 2024. The price for UK organic milk will rise by 1.70 pence per litre (2.0 €c/kg).
As a result, the UK manufacturing price for conventional milk will be 41.70ppl, while organic milk will increase to 52.57ppl. The quarterly currency exchange rate adjustment negatively impacted the on-account price by 0.08ppl.
Arthur Fearnall, Arla Foods amba board director and Arla farmer, commented, “Global milk supplies remain stable or slightly lower, while retail sales continue to grow at a slower pace. Commodity markets are strengthening, driven by higher fat prices. Overall, the outlook is stable.”
Paul Dover, UK Agricultural Director, added, “We have concluded our election cycle and have new elected farmer representatives across Europe. As a farmer-owned cooperative, this allows us to make long-term decisions beneficial to our farmers, free from investor-driven short-termism. With new products launching in the UK and news of committed new investments, it’s an exciting time for Arla farmers.”
Arthur Fearnall, Arla Foods amba board director and Arla farmer, commented, “Global milk supplies remain stable or slightly lower, while retail sales continue to grow at a slower pace. Commodity markets are strengthening, driven by higher fat prices. Overall, the outlook is stable.”
Paul Dover, UK Agricultural Director, added, “We have concluded our election cycle and have new elected farmer representatives across Europe. As a farmer-owned cooperative, this allows us to make long-term decisions beneficial to our farmers, free from investor-driven short-termism. With new products launching in the UK and news of committed new investments, it’s an exciting time for Arla farmers.”
