The Canadian Dairy Commission, which oversees federal and provincial dairy policies, will proceed with another round of wholesale milk price hikes effective Feb. 1.
The Crown corporation, which already introduced two price hikes in 2022—8.4 percent last February, and 2.5 percent last September—will have the farm gate milk price rise by another 2.2 percent starting next month.
The Commission said the hike took into account inflation, as well as production costs incurred by dairy farmers.
“Producers face increases in feed costs, fertilizer costs, fuel costs and interest rates,” it said in a statement, as reported by Blacklock’s Reporter.
The February hike to the cost of milk used for making dairy products such as ice cream, yogurt, cheese, and butter means further impact on the retail and restaurant sectors, which ultimately affects the consumers….