Jersey Milk Faces 5% Wholesale Price Hike Amid Inflationary Pressures
Sourse: The DairyNews
The wholesale price of Jersey Milk is set to increase by 5%, resulting in an additional seven pence per litre, according to Jersey Dairy. The rise is attributed to ongoing inflationary pressures affecting the dairy industry.
Managing director Eamon Fenlon acknowledged the increased costs faced by businesses over the past year and emphasized the organization's efforts to find efficiencies. Factors such as packaging, utility, and freight costs for 2024 are cited as contributors to the operational cost increase.
Individual retailers will have the discretion to decide whether to pass on the full or partial increase to consumers. If fully implemented, the price of a litre of milk could reach around £1.60.
Guernsey experienced a 6% rise in wholesale milk prices recently, resulting in an average cost of £1.72 per litre. Fenlon hopes that customers in Jersey understand the necessity of the increase for the sustainability of local farms and the future of the iconic Jersey cow.
The approved 5% increase, endorsed by Economic Development Minister Deputy Kirsten Morel, is seen as proportionate and necessary to support the financial returns required for the growth and continuity of the dairy sector. This follows previous increases of 15p per litre in January 2023 and 8p per litre in February 2022.
Individual retailers will have the discretion to decide whether to pass on the full or partial increase to consumers. If fully implemented, the price of a litre of milk could reach around £1.60.
Guernsey experienced a 6% rise in wholesale milk prices recently, resulting in an average cost of £1.72 per litre. Fenlon hopes that customers in Jersey understand the necessity of the increase for the sustainability of local farms and the future of the iconic Jersey cow.
The approved 5% increase, endorsed by Economic Development Minister Deputy Kirsten Morel, is seen as proportionate and necessary to support the financial returns required for the growth and continuity of the dairy sector. This follows previous increases of 15p per litre in January 2023 and 8p per litre in February 2022.
