Farm Fresh milk prices will increase in July!
According to news from Farm Fresh, as quoted by The Star, the price of chilled ready-to-drink products sold in the country will increase from July, by an average of 5%.
Under the inflationary pressure brought by the rising prices of raw materials and the economic uncertainty caused by the military shock in Russia and Ukraine, Farm Fresh was forced to raise its prices by about 5% from July, while products in Singapore will be raised by 8% on average from August.
Farm Fresh already raised the prices of its refrigerated ready-to-drink milk products and ultra-high temperature processed ready-to-drink products in September and December last year, when it also raised prices by 5%. Farm Fresh’s product prices had remained unchanged for four consecutive years prior to that.
Milk futures rose 40.9 percent in one year, according to Bloomberg data.
