Tesco Expands Sustainable Dairy Group of Suppliers

This week, Tesco announced it is expanding its Sustainable Dairy Group, increasing the number of farms involved by around a quarter.

Tesco also said it will provide further support for young people wishing to enter the industry.

The move follows a review of the group, which Tesco undertook to adapt to changes that have taken place in the industry since the group was set up in 2007.

Regarding the group, Tesco Commercial Director for Fresh Food Matt Simister said: "By maintaining our above the cost of production model and focusing on delivering quality, value, innovation and service for our customers, we are confident it can continue to be a standard bearer for the industry."

Sustainable Dairy Group Farmer and Committee Chairman, James Stephen, said that the group helps to provide farmers with security and peace of mind in an increasingly volatile market – read more here.

In market news, the Global Dairy Trade Price Index fell by 7.4 per cent from the previous auction at the latest event on Tuesday.

The fall continues a downward trend that started last week, following a price rally which lasted for the previous four events before that.

Skim Milk Powder and Whole Milk Powder both fell in price by 8 per cent.

Butter prices fell by 5.6 per cent, and Cheddar showed the lowest price falls out of all the products on sale at -4.6 per cent – read more here.