Toronto, November 1: Milk prices in Canada are expected to go up again in the new year.
The Canadian Dairy Commission said Tuesday it has approved an increase in farm gate milk prices of about 2.2 per cent, or just under two cents per litre, effective Feb. 1, 2023.
The Crown corporation, which oversees Canada’s dairy supply management system, said the increase is based on the rising cost of production.
It comes after the commission approved two price hikes in 2022: A 2.5 per cent increase, or roughly two cents per litre, in September and an 8.4 per cent increase, or six cents per litre, in February.
Altogether, the total 12-month farm gate milk price increases amount to roughly 10 cents per litre, or 13.1 per cent.
The increase planned for February will become official once approved by provincial authorities.
The price hike will see all dairy products — including butter, cheese, ice cream and yogurt — increase in price though some products will be affected more than others.