Retail markets return more value

Published 7 November 18

Dairy performed well at retail in the third quarter of the year, with the value of sales up by 5.2%. This was driven by a mixture of higher sales volumes and higher prices across dairy categories.

 Retail markets return more value

In the 12 weeks to 7 October, milk and yogurt contributed the most to value growth. For milk, this growth was due to a 5.7% increase in prices while for yogurt, the value growth was mostly driven by increased sales (5.9%). Meanwhile, cheese value benefitted from both a small price increase and higher volumes sold.

For butter, the value growth was strictly down to higher prices (10.1%), as volume sales fell (-3.2%). This is likely a reflection of consumer reaction to the sharp rise in prices over the past year, leading to the question of how long retail sales performance can be sustained if prices continue to rise.