Darius Malakauskas, executive director of the grocery chain Iki, told the daily that a couple of suppliers had already notified that the prices of raw milk kept growing hence they planned to increase the prices of their products by between 5 and 10 percent.
“If we compare milk purchase prices this August and in August last year, we can see that the cost of raw material has soared by as much as 40 percent. Whereas the prices of dairy products have grown just by some 5 percent since spring,” Gintaras Bertasius, CEO of Vilkyskiu Pienine (Vilkyskiai Dairy) told the daily.
He believes that the prices of dairy products will definitely grow in Lithuania this year since there are no signs that the prices of raw milk might go down. “Global demand in dairy products is strong and the warehouses of European manufacturers are empty. The supply of raw milk is insufficient due to drought in Europe… Another reason is the growth in demand in dairy products in Asia,” Bertasius said.
