Shoppers are continuing to switch from branded to supermarket own-label dairy products to cut costs as milk prices rose year-on-year, dairy giant Arla Foods has revealed.
The company, which has packing facilities in Oswestry and Malpas, near Whitchurch, said the first half of 2023 has been dominated by inflationary pressure, leading it to cut its sales forecast for the full year.
Arla Foods UK, which is the nation’s largest dairy co-operative, owned by around 2,000 farmers, reported a 16.9 per cent surge in revenues to £1.37 billion. “As anticipated, the market conditions put our branded products under pressure,” said Jonathan Dixon, senior vice president of sales at Arla’s UK arm. “During the first half of 2023, we continued to see inflationary pressure resulting in consumers moving towards discount channels and private label products.
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