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WBD to Fix Milk Prices

Wimm-Bill-Dann Foods agreed with the National Dairy Producers Union to fix raw milk prices, union spokeswoman Ksenia Buranova said Thursday.

The corridor is set from 11 rubles to 15 rubles (35 cents to 50 cents) a liter. The Federal Anti-Monopoly Service issued warnings to Wimm-Bill-Dann units in Omsk and Novosibirsk earlier this week, ordering the company to cut milk prices.

“We believe this threshold is beneficial for farmers because they don’t need to worry that the price of milk will drop sharply tomorrow and can plan long-term,” said Wimm-Bill-Dann spokeswoman Marina Kagan.

Raw milk prices have increased about 60 percent in the past year, Kagan said. 

(Bloomberg)


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