TORONTO – Restaurateurs are crying foul over a second industrial milk price increase this year set to take effect Thursday, which they say will likely lead to higher food prices.
In July, the Canadian Dairy Commission decided to raise the price of industrial milk — which is processed into yogurt, ice cream, cheese and butter — by 2.76 per cent. That's on top of a 2.2 per cent hike that occurred in February.
It's the first time the CDC has increased prices twice in one year since 2008. The latest hike is being introduced because of a "very unique and unexpected situation," Benoit Basillais, CDC's chief of policy and economics, said in an email.
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