Farmers say they’re ‘near breaking point’ as supermarkets cut the price of milk – – Our News, Your Views

Farmers say they’re ‘near breaking point’ as supermarkets cut the price of milk

The IFA warns dairy farmers are “near breaking point” as supermarkets cut milk prices.

Four of Ireland’s biggest retailers have announced price cuts this weekend.

Lidl, Tesco, Aldi and Supervalu have announced that the price of 2 litres of milk will drop by 10 cents in stores, reports say this morning.

While this news will be welcome to buyers, the Irish Farmers’ Union has warned against such a move.

Due to the reductions in the price of milk so far this year, the dairy farmers have already lost an average of 50,000 euros, reports Breaking News.

The latest Kantar figures suggest food price inflation is at an all-time high, rising more than 16 per cent last year, while CSO data says milk prices have risen 24 per cent since the start of the war in Ukraine last year.

Speaking to Newstalk, Chairman of the IFA Liquid Milk Committee, Keith O’Boyle said there will be dire consequences for farmers: “When we see retailers cutting milk price like this, the only thing that happens is a price war, They use our milk as a loss-leader. What happens is we lose as farmers and the money they cut will dwindle down, and we will feel the brunt of it,” reports Breaking News.

As reported by the Irish Examiner, Labour’s finance spokesman, Ged Nash, said supermarkets were price gouging and prices needed to be reduced.

“[The milk price cut] is good news for shoppers, and it essentially confirms what I’ve been saying for weeks – price gouging is endemic throughout the grocery sector in Ireland. Government must now commit to working with the CCPC to stamp out this ‘greedflation’ once and for all. These big and brave supermarkets must also commit to meaningful price reductions across the range of other products that they are using to cream it in,” reports Breaking News.

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