Jersey Dairy has announced it is increasing its prices for the first time since 2013.
The wholesale price of milk will rise by 4p from Monday 15th May.
The company says the increase is due to rising costs as a result of the pound’s poor performance against the Euro.
Other Jersey Dairy products, such as ice cream and butter, will also see a price increase of between 4% and 8%.
Eamon Fenlon, Managing Director of Jersey Dairy, says the company has resisted the rise for as long as it could.
We have taken the impact of the movement in exchange rates for the last eight months in the hope that there would be signs of a recovery, but this has not been the case and we are facing increasing costs in packaging, ingredients, operational supplies and other services supplied to Jersey Dairy, with some price increases approaching 20%.
The Dairy industry is an important part of Jersey’s heritage, so whilst we are reluctant to increase our prices, it has become unavoidable if we are to address some of the increased costs we are facing in order to sustain the commercial future of Jersey Dairy and the dairy industry.
Jersey Dairy has increased the price of milk four times in the last 14 years,
representing just 1/3 of the increase in the Retail Price Index (RPI) over the same period.
Jersey Dairy implemented price rises of between 7% and 10% on the products it exports off Island with effect from January 1, 2017.
Source: ITV
