The retail price of milk in New Brunswick is going up by one cent per litre starting Monday.
“The price of milk in New Brunswick will rise 0.7 per cent over last year’s price, a very modest increase, which reflects the increase that dairy producers and processors have had in their input costs,” New Brunswick Farm Products Commission chairman Hazen Myers said in a release Wednesday.
Thus, effective Feb. 1, dairy producers will get an additional 0.3 cents per litre, while fluid milk processors will see an extra 0.5 cents per litre, the commission said. Retailers will continue to get their standard markup.
“As hoped for after last year’s price increase, the sustained reduction in fuel prices served to lower production and operating costs during this past production season,” the commission said.
School milk prices, meanwhile, will not change for the coming academic year, the commission said. Under the school milk program, the province’s processors and producers subsidize the price of milk for schoolchildren at a cost of $1.3 million per year.