Deadline approaches for raw milk price negotiations

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Deadline approaches for raw milk price negotiations

Published: 24 Jul. 2024, 19:08

KIM JU-YEON
kim.juyeon2@joongang.co.kr

A customer looks at different milk brands displayed at a supermarket in Seoul on Wednesday. [YONHAP]

A customer looks at different milk brands displayed at a supermarket in Seoul on Wednesday.

Negotiations over raw milk prices have been dragging on as representatives from the farming industry — which involves the raising and milking of livestock — and dairy industry have clashed.

A subcommittee of members of the Korea Dairy Committee board, created on June 11, is required to negotiate and settle on a price by Tuesday. After the subcommittee settles on a price, it will be voted on by the board of directors and will be reflected in market prices from Aug. 1.

Raw milk prices, which reflect farm production costs and market conditions, can rise up to 26 won (2 cents) per liter this year.

If a decision is not made by Tuesday, raw milk prices will remain unchanged.