The island’s consumers association on Wednesday described unjustified the recent price increase by about 3 per cent of pasteurized milk.
The association called on the Commerce and Industry Ministry as well as the Consumers Protection Authority to intervene and take measures that actually protect the consumer.
The milk market in Cyprus is essentially an oligopoly with two big companies controlling the market. There is a third but smaller company.
A study carried out by the association shows that the price of electricity and fuel are at the same levels they were in 2018, while the price of pasteurised milk is 5 per cent higher now compared with then.
At the same time, the association pointed out that cow farmers said they will not be raising the price of milk.
