The National Pricing Formula and the February 1st, 2025, Farmgate Price of Milk Adjustments

October 11th, 2024

On October 4, 2024, the Canadian Dairy Commission (CDC) communicated the results of its Cost of Production (COP) survey to stakeholders Footnote 1 . Stakeholders were given until October 11, 2024, to notify the CDC whether they wished to invoke the Exceptional Circumstances (EC) process. Exceptional circumstances were eligible because the difference between the change in iCOP and the change in CPI is 5.82 percentage points, which is above the 5 percentage points as defined in criteria #2. 

The CDC did not receive any requests from stakeholders. As such, the result of the National Pricing Formula (NPF) will be used to determine the price adjustment for February 1st, 2025. The CDC Board will hold consultations between October 17th and 22nd, 2024, on its support price only. 

Final price adjustments for 2025 will be announced no later than November 1, 2024, in order to provide a sufficient notification period for the supply chain. 

For more information on how the COP survey is conducted and how it applies to the farmgate price of milk, you can consult the CDC’s Process for the Annual Cost of Production Survey and Pricing Milk at the Farm Level. The results of the COP survey for 2023 are also available.