“It was somehow expensive”… Will the price of Korean milk, which is the most expensive in the world, rise further?

The deadline for negotiating the price of raw milk, which is the basis for milk prices온라인바카라, has been postponed from the 19th to the 24th. This is because the gap between dairy farmers and dairy companies has not narrowed even after more than a month of negotiations. As the negotiations are hardly finding a way out, it is predicted that an agreement will not be easy until the 24th.

According to Maeil Business News coverage, the Dairy Farming Promotion Association held a meeting on the 19th and extended the deadline for determining crude oil prices again. Originally, the deadline was on the 30th of last month, but it was extended to this day, but it was delayed once more. A subcommittee consisting of the chairman of the Dairy Farming Promotion Association, three dairy farmers, and three dairy companies is discussing the range of increase between 69 and 104 won per liter.

The deadline was extended again because the conflict between the dairy farms and the dairy companies, which are the negotiators of crude oil prices, was still tense. Dairy farmers are arguing that the price of raw milk should be raised by the maximum amount within the negotiation range (104 won per liter), citing reasons such as raising the price of raw milk and withholding the price increase during the Corona 19 period. On the other hand, dairy companies are in a position to raise prices as little as possible. It is interpreted that the fact that the Ministry of Agriculture, Food and Rural Affairs recently convened dairy companies and asked them to refrain from raising prices of dairy products.

If the subcommittee determines the amount of crude oil price increase during this month and passes the resolution of the board of directors of the Dairy Farming Promotion Association, it will be applied immediately from the 1st of the following month as scheduled. However, if the negotiations go beyond this month, additional work will be needed to determine when the price increase will be retroactively applied.

Even if the crude oil price rises by the smallest amount (69 won per liter) within the negotiation range, the consumer price of 1 liter of white milk is expected to exceed 3,000 won from the current 2,800 won. As a result, there are voices that are concerned about ‘milkflation’, in which prices of dairy products, starting with crude oil prices, soar. According to the National Statistical Office, the year-on-year price increase rate of milk from this year to last month has already maintained a high level of 8-9%.

The dairy industry is also in an atmosphere of concern, saying that if crude oil prices rise significantly, related costs will increase. As the additional costs that dairy companies have to bear are directly passed on to consumers, the increase in crude oil prices must be minimized. An official from a dairy company said, “Assuming that the price rises by 100 won per liter, an additional cost of about 2 billion won will be incurred every month.”

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