COLES and Aldi have succumbed to public pressure and announced they will raise the price of their milk and pass the extra cash onto Australian dairy farmers.
From today, Coles and Aldi will add 10 cents per litre to each two and three-litre bottle of milk in order to help farmers struggling with the drought.
The supermarket giants announced the move on Tuesday evening, one month after rival Woolworths increased the price of their milk. Coles and Aldi refused to follow suit at the time.
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The move brings an end to the eight-year milk price war between the major supermarkets.
Both Coles and Aldi, however, stressed the price hike was a short-term solution to an issue that demands structural reform.
Queensland Agriculture Minister Mark Furner has welcomed the news and said there had never been a more important time to support our farmers.
“I welcome the news of Aldi and Coles to offer a fairer price for their fresh milk, following the lead of Woolworths last month,” Mr Furner said.
“Every Queenslander knows the impact drought and lower prices have had on dairy farmers.
“Hopefully this will lead directly to more money in the pockets of farmers who are doing it tough.”