Prices of milk and dairy products will rise starting Sunday due to the hike in the cost of raw milk.
According to the dairy industry on Sunday, the nation’s largest milk producer, Seoul Dairy Cooperative, will raise the price of its one-liter milk carton by three percent, which will push up the price of a one-liter Seoul Milk carton at discount scores to some 29-hundred won.
Another major milk company, Maeil Diaries, is also raising the price of its fresh milk products by an average of four to six percent starting in October.
The prices of Maeil’s processed milk products will rise five to six percent, and the prices of fermented milk and cheese products will go up six to nine percent.
Namyang Dairy Products will hike the price of its 900-milliliter carton of milk by four-point-six percent and the prices of other dairy products by an average of seven percent.
The hikes follow the Korea Dairy Committee’s decision to increase the cost of raw milk by 88 won per liter, or eight-point-eight percent, starting Sunday.