Supermarket ups the cost of milk to help farmers
COLES supermarkets today increased the price of selected milk in the hope it will help drought-stricken farmers.
The supermarket has increased the price of two and three litre Coles Brand milk by 10 cents per litre to $2.20 and $3.30 respectively.
Meanwhile, the cost of Coles Brand one litre milk has remained at 90 cents.
A Coles statement released on March 19 said it was clear many dairy farmers, particularly in Queensland, New South Wales and Victoria, were struggling as a result of drought.
"Coles will work with dairy processors to ensure that the benefit of this retail price increase will go directly to the dairy farmers who supply Coles Brand milk to our customers," the statement said.
Coles Group Chief Executive Officer Steven Cain said all Coles Brand fresh milk was sourced from Australian farmers.
"Coles supports proposals to make Australia's dairy industry more sustainable, and we are continuing to explore long-term solutions with government and industry stakeholders," he said.
"However we know that many dairy farmers cannot wait for structural reform to be delivered so we are moving to provide relief right now."
Coles has committed $16 million since the beginning of the financial year to supporting farmers and producers and $5 million in grants or interest-free loans from the Coles Nurture Fund for farmers who have a project to help them to combat drought in the future. Customer donations can be made at Coles supermarket registers CWA Drought Appeal.