OTTAWA — Dairy prices are set to drop 1.8 per cent, effective March 1, the Canadian Dairy Commission (CDC) announced today.
“This reduction follows a decrease in the cost of producing milk in Canada in the last year. This cost decrease can be seen mostly in feed, milk transportation, fuel and interest paid,” said Randy Williamson, chairman of the CDC. “We are optimistic this price reduction will help grow the demand for dairy products.”
The Toronto-based Restaurants Canada expects the dairy processors to pass on the price reduction to the foodservice industry. “Restaurants want to support the growth of the dairy industry, along with other Canadian agricultural sectors,” said Donna Dooher, Restaurants Canada’s interim president and CEO. “This decrease helps us stop our industry’s declining use of dairy and promote growth instead. It’s a win for everyone.”