The price of a pint of milk may jump by 50 per cent, as industry leaders held crisis talks.
A perfect storm of supply chain pressures and rising costs for farmers has led to fears that the price of milk might soar to the highest for years.
According to The Telegraph, four pints will jump in price from £1.15 to possibly £1.70. There was also a warning from Kite Consulting, which advises the industry, that a regular pack of butter could rise to more than £2.
UK and EU industry leaders, concerned over rising costs for fuel, fertiliser and feed for animals which produce milk, met in Brussels for crisis talks last week.
The Department for Environment, Food and Rural Affairs (DEFRA) was reportedly in “listening mode” over the looming crisis, according to the Telegraph.
A Defra spokesperson said: “Food prices fluctuate in any given year and depend on a range of factors” and that it has “set up the UK Agriculture Market Monitoring Group and continue to engage with the sector regarding these challenges and potential mitigations.”
The National Farmers Union’s dairy board chair, Michael Oakes, told City A.M. said the pressures producers face, “means that for most dairy farmers the cost of production is much higher than the price they are currently receiving for their milk.
“We know the British public hugely value the high-quality, sustainable dairy products farmers produce. Farmers are not responsible for setting the price of milk for the public, so we’re asking for fairness across the whole supply chain to manage these inflationary pressures and to ensure that farmers are being supported through these challenging times.”