Supermarket chains cut price of butter amid dairy farmers’ concern

Following widespread falls in the price of milk across the main supermarkets over the weekend, consumers in a number of supermarket chains will also now benefit from a drop in the price of butter.

From tomorrow morning, Tesco Ireland said it will cut the cost of its own brand butter by 40c per 454g pack (one pound), pricing it at €2.99 – down from €3.39.

Aldi has also announced that it will cut the cost of its own brand butter from tomorrow morning.

It has confirmed that it will drop the retail price of one pound of butter by 40c. It will now sell at €2.99.

Other butter products will also reduce in price accordingly.

Meanwhile Lidl has also confirmed a 40c cut in the price of its own-label butter commencing tomorrow morning. One pound of butter in Lidl will now sell at €2.99.

The retail price of SuperValu’s 454g own brand butter will reduce by €0.40c tomorrow. This will see the cost go from €3.39 to €2.99.

Last Friday evening, the first cut in milk prices was announced by Lidl Ireland and over the following hours, the other main supermarkets also announced cuts in retail milk prices.

It is more good news for consumers who have been forced to endure rates of food inflation that far exceed the general rate of inflation in Ireland.

Figures from Kantar released yesterday show food inflation has turned, but still sits at 16.6% in the three months to 16 April.

However, the move is likely to annoy farmers who say price reductions for dairy products puts further downward pressure on the price they are paid for their raw milk.