Due to the rapid price growth during the summer, and insufficient amount of milk in the market, Lithuanian traders forecast increase in price for milk in October.

Retailers note that that the price of milk has increased by 5% this year, and might grow even more. Buyers have even noticed that prices of butter and cheese have grown considerably over the year, reported LETA.

Trade chains said that processing companies plan to rise prices by 5%, or 10%.

Representatives of large Lithuania-based milk processing company Pieno Zvaigzdes noted that the company paid 30% more for raw milk in July of this year as compared to the corresponding month of the previous year. The price is also higher in August; therefore, costs increase and the enterprise suffers loss on the local market. However, exports bring profits to the company.

Producers note that price increase was influenced by unfavourable weather conditions this year, but they refrain from comments on further price fluctuations.