The price of milk has increased by up to 12 cents a litre in the past week as retailers pass on higher raw material costs to the consumer. There could be further increases shortly with the State's largest producer Glanbia warning yesterday that "soaring" costs may prompt another price hike.
The company's best-known milk brand, Avonmore, was selling in supermarkets for €1.85 for two litres last October; now the same pack costs €2.12. Convenience store prices are even higher; in one Dublin outlet, two litres milk cost €2.55 yesterday.
Glanbia confirmed yesterday that price increases across dairy and food products had been implemented across the trade. The company said the increases, which were flagged last November, followed a long period during which it absorbed high cost increases in raw materials.
"Glanbia carried these costs for many months which have now been passed on to ensure that margins return to sustainable levels," said Colin Gordon, of Glanbia Consumer Foods. He said the price rises were a "measured response" to unprecedented cost increases.
