IN A BID to rescue the local fresh milk industry from going bad, Government is increasing the farm gate price for farmers by 25 cents per kilogramme and paying a $1.17 per kilogramme subsidy directly to them.
And, from August 1, there will be a tax on all milk and milk substitutes calculated at a five per cent rate for products containing 60 per cent or more of liquid fresh cow’s milk, and a ten per cent rate for all other milks and milk substitutes. The goat milk industry remained exempted.
The subsidy should lead to an 11 per cent price reduction for milk consumers, said Minister of Finance Chris Sinckler.
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