Ottawa – The Canadian Diary Commission has postponed its farm gate milk price adjustment – an increase of 1.77 per cent – to May 1, 2024, instead of February 1, 2024.
This increase translates to $0.0153/litre (or just over 1 cent per litre).
The CDC said in a statement: “Like most Canadians, dairy farmers have been feeling the pressures of inflation. Despite stabilizing feed, fuel and fertilizer costs, producer gains were offset by higher interest rates.
“This adjustment means the cost of milk used to make dairy products such as milk, cream, yogurt, cheese and butter for the retail and restaurant sectors will increase by an average of 1.77 per cent. The net impact on consumers is also influenced by other factors in the supply chain such as transportation, distribution and packaging costs. The price paid to farmers is only part of the price paid by consumers.”
The following stakeholders were involved in the review and consultation: Dairy Farmers of Canada, Dairy Processors Association of Canada, Consumers’ Association of Canada, Retail Council of Canada, Canadian Federation of Independent Grocers and Restaurants Canada.
The new farm gate milk prices will become official once they are approved by provincial authorities.