The Canadian Dairy Commission has just released its recommendations for 2023.
According to Statistics Canada, food prices overall are up 10.3% over last year and dairy products are now 9.7% more expensive compared to last year. The attention grabber in the dairy section was butter. In many parts of the country, butter is 20% more expensive compared to last year. Many people have just given up on the product and are now opting for non-dairy alternatives.
But unlike in other years, the Canadian Dairy Commission actually bothered inviting media to a press conference to announce price hikes and answer questions. Such an approach was very refreshing. Typically, the Commission would just post a brief, 200-word abstract on their website, announcing the increase. It was simply insulting. With last year’s 8.4% increase, the approach was a complete disaster, undermining consumer trust.
The key is to understand how efficient our dairy farms actually are, and what type of farms are included in the sample design. All these things matter when calculating costs. And as we witnessed this year, retail prices are strongly affected by how much dairy farmers end up getting. For every dollar paid for fluid milk at retail, about 40% to 60% of the cost goes back to the farmer, depending on the brand and location of purchase.
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