New Brunswick consumers can expect to see a milk price increase of five cents per litre in stores in the province starting Tuesday (Feb. 1).
“The price of milk in New Brunswick will rise 2.7 per cent over last year’s price, which reflects the significant increases that dairy producers and processors have had in their input costs,” Robert Shannon, chair of the New Brunswick Farm Products Commission, said in a release Thursday.
The increase is expected to provide dairy producers with another 2.81 cents per litre, while fluid milk processors will see an additional 1.3 cents per litre.
Retailers will continue to receive their standard markup, said the commission, which is responsible for setting the minimum retail and the wholesale price for fluid milk products in the province.
Subsidized prices under the province’s School Milk Program will remain unchanged for the current school year, the commission said.
Processors and producers, under this program, subsidize the price of milk for school children in the province by about $1.3 million a year.