BUDAPEST: The purchasing price of milk has fallen to HUF 75-77 per liter and spot market prices are as low as HUF 72-73 per liter, down from the bulk purchase price of HUF 100 per liter last year, Hungarian economic daily Világgazdaság reported today.
Production costs for the most part range between HUF 95-98 per liter according to the paper and only subsidies are keeping many producers from going bankrupt, the paper said, adding that the price of milk has fallen due to large global supply, the phasing out of European Union milk quotas and the embargo by Russia.
