September retail sales recorded a decrease in volumes for milk, cheese, and yellow fats year-on-year, however higher prices meant total spend increased particularly for both milk and yellow fats.
According to the Agriculture and Horticulture Development Board (AHDB) latest figures, spend on cow’s milk increased by 4.4% in the year due to higher prices and the average price of cow’s milk rose by 12.5% over the same period. Volumes of cow’s milk declined by 7.2% in the year, with semi-skimmed milk seeing the largest decline in volumes.
Yellow fats saw a decline in sales volume of 9.6% but actual spend on yellow fats grew by 1.5%. Plant-based spreads was the only yellow fat category to record spend growth, however this growth was not enough to balance the declines in block butter, spreads, and margarine. AHDB said that the acceleration in sales of plant-based spreads has been driven by an increase in products coming on to the market.
Despite cheese average price rising 5.3% year-on-year, spend declined by 0.8% over the period due to the loss in volume. Volumes of cheese decreased by 5.8% year-on-year with cheddar driving most of the decline, however cheddar still accounted for 48% of volumes sold in the period.
AHDB concluded that, of the three products, milk, cheese, and yellow fats, cheese prices have seen the smallest annual increase in price. It added: “Snack and lunchbox cheeses continue to be the only category to see year-on-year growth through attracting new shoppers.”
