The price of chilled ready-to-drink products sold in the country will increase by an average of 5% from July, according to a news report from Farm Fresh cited by The Star.
Due to inflationary pressures from rising raw material prices and economic uncertainty from the military shocks in Russia and Ukraine, Farm Fresh has been forced to raise prices by about 5% from July, while Singapore products will be priced at an average of 8% from August.
Farm Fresh has already increased the prices of its chilled ready-to-drink milk products and ultra-high temperature processed ready-to-drink products in September and December last year, when they were also increased by 5%. Prior to this, Farm Fresh’s product prices had remained unchanged for four consecutive years.
According to Bloomberg, milk futures have risen by 40.9 per cent in a year.
