Aug 07, 2022 Warehousing Ireland BREXIT, Materials Handling, News, shipping, Storage, Warehousing Comments Off on The Smart Cube: Butter & Cheese prices set to fall during second half of 2022
The prices of dairy products have seen remarkable increases in the last few months. In recent weeks, it has been reported that the cost of spreadable butter has skyrocketed in UK supermarkets, with some selling one-kilogram tubs of Lurpak for more than £9, while milk prices around the country have also risen above the level of inflation. In fact, some suppliers are even warning that the UK is currently on the edge when it comes to facing possible dairy shortages.
There are several factors which have caused the prices of these dairy products to surge so far this calendar year, many of which stem from the ongoing war between Russia and Ukraine. These include high input and processing costs, as well as low labour availability, high leading time, and the current freight crisis, all of which have been further aggravated following Russia’s invasion of Ukraine.
Looking ahead to the rest of the year, Rohit Ranjan, Specialist – Dairy and Livestock, has given the following predictions regarding the prices of popular dairy products for the next six months:
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