BBC Sounds, Music, Radio, Podcasts

Hello and welcome to this episode of MOOZCAST

because we're going to talk about milk, which means we're reopening the newscast, virtual

supermarket. And the reason we're re-entering the supermarket is because there is news about

milk today. It's going down in price. TESCO announced that a four-point bottle will drop

from £1.65 to £1.55 and today, Sainsbury's has done the same. Two points will be cut by

£5.00, £1.25 and a single pint, that's what I tend to buy, will also drop by the same amount

to £90. And this is all happening because wholesale prices of milk have gone down. But why?

Paul Tompkins is the dairy board vice chair for the National Farmers Union. He's also a dairy

farmer in the Vale of York. Hi Adam, the price of wholesale milk has gone down because we're producing

slightly more of it, so there's a surplus. More is being produced at the moment because

factors like favorable grass growing conditions. Demand is also currently lower. We're not really

talking about how many flat whites you're listening to buying because that's pretty consistent.

Today's demand is influenced by much bigger players on a global scale, like demand from big buyers

like China. In addition to this, milk runs on really tight profit margins, so when there's an

unexpected inflationary cost, like fertiliser and energy, it goes straight to the shelf price.

This is why we saw milk prices as one of the first to go up and now the pressures have eased a bit,

they're the first to come back down. And in other virtual supermarket news,

Tesco's profits have halved to a mere £1 billion. Right, on from this episode of Moose Cast

to a classic episode of newscast. Newscast. Newscast from the BBC.

He got trounced by the former Prime Minister who herself got beaten by a lettuce.

At least I didn't slap anybody which is good. Rean economy, la, la, la.

...