One of Field Agent’s most popular reports on the Canadian grocery industry is back! The March 2023 edition of the Canadian Fluid Milk report is the most comprehensive look at the prices Canadians pay for one of the most common items in the Grocery basket - 2% Milk.
Milk is a household staple and a bellwether product in terms of overall inflation in the food industry. Our latest Canadian Fluid Milk Report provides the most comprehensive look at retail milk prices in the Canadian market and at Field Agent Canada we have been tracking fluid milk prices in Canada since 2015.
Key Highlights - Changes Since February 2022:
- Canadian milk prices increased in all 20 markets measured
- 4L Milk prices increased an average of 8.8% over the past year.
- Comparative Prices at Walmart US stores decreased 12% over the same period
- The gap between cow's milk and milk alternatives (soy, almond, etc.) appears to be narrowing and in some markets Almond milk was cheaper than cow's milk.
- Most expensive market for 4L milk was Charlottetown, PEI
- Least expensive market for 4L milk was Sudbury, ON
Our survey discovered record high milk prices, with average prices of 4L milk increasing 8.8% since our last study in February 2022. On-shelf prices have recently increased based on the adjusted farm gate pricing that was approved to be implemented on February 1st. In fact, all 20 markets that we measured saw the price of 4L milk increasing from February 2022 to February 2023 with increases ranging from 3.7% in Quebec City, QC to 15.3% in Mississauga, ON.
We also glanced across the border to Walmart US stores and were astonished to see that the prices for a gallon of milk in the four stores we measured has decreased by 12% vs. a year ago. "It is very difficult to not recognize that Canada's milk production is very inefficient when farm prices have increased twice in a little over a year all the while US prices are falling by double digits at the same time. It appears that it is time that we stop protecting small, inefficient Canadian supply chains and start consolidation within the Canadian milk industry so Canadian families can continue to afford to put milk on the table." says Jeff Doucette, General Manager of Field Agent Canada.
This report also gives our first glance into the comparative price of 2% cow's milk in 2L cartons to the 1.89L carton of Silk-brand Unsweetened Almond beverage (the top selling plant based beverage). We find that with the recent price increases in cow's milk, plant based alternatives are becoming more affordable on a comparative basis. "Our survey shows that Silk products were just 10% higher than cow's milk on average and in some markets the price of a carton of Silk was actually cheaper than a carton of cow's milk." noted Jeff Doucette. "Are Canadians going to make the switch to plant based alternatives to save money on their grocery bill?"
Our full report including data for 20 markets across Canada is available at the link below:
