Malta Dairy Products Ltd., the producer of Benna fresh milk products, has announced a price adjustment effective 22 December 2023, which it said reflects the current substantial increases in production and operational costs.
As a result of the adjustment, a litre of regular fresh milk, previously priced at €1, will see an increase of 15 cents, bringing it to €1.15. Lactose-free milk will experience a similar adjustment, moving from €1.25 to €1.40.
The prices had already been increased by some 8 cents in June, as Malta and rest of Europe experienced rising inflation and production costs.
The decision comes after five years of steadfast efforts to maintain stable prices despite economic challenges, the company said.
In a statement, the company said it has faced escalating costs in supplies, raw materials, and services over the past half-decade.
Price of dairy products set to rise from 1 June
But despite economic fluctuations and challenges, Malta Dairy Products prioritised the stability of prices, absorbing mounting expenses to shield consumers from direct impacts on the selling price, it added.
Various cost-saving measures, including streamlining operations and optimising production processes, were implemented. However, the significant increase in input costs has proven difficult to fully offset. The sustained rise in production and operational costs has reached an unsustainable point for the company’s operations, prompting the decision to adjust prices.
In a statement, a company spokesperson acknowledged the difficulty of the decision, saying, “While it’s never an easy choice to adjust prices, it has become essential for us to maintain competitiveness and sustain the quality standards that our customers have come to expect. We sincerely appreciate the understanding and continued loyalty of our customers during this transition. Their support has been invaluable as we navigate these tough challenges.”
Malta Dairy Products emphasised that the decision was made after careful consideration and aims to ensure the company’s sustainability while supporting local farmers and its workforce.
The adjustment in prices of fresh milk will be as follows:
| Product | Current Recommended Consumer Price | New Recommended Consumer Price* |
| Whole Milk 1L | €1.00 | €1.15 |
| Milk 2.5% fat 1L | €1.00 | €1.15 |
| Skimmed Milk 1L | €1.00 | €1.15 |
| Lactose Free Milk 1L | €1.25 | €1.40 |
| Milk 2.5% fat ½ L | €0.58 | €0.66 |
| Skimmed Milk ½ L | €0.58 | €0.66 |
| Lactose Free Milk ½ L | €0.70 | €0.77 |
