U.S. District Court Judge Carlos Domínguez on Wednesday sided with the Puerto Rico Farm Bureau granting its petition for an increase in the price of fresh milk, to compensate for their operational costs.
During a hearing, the judge ordered the Milk Industry Regulatory Office, known as ORIL, to comply with Regulation 12 that obligates the agency to put into effect an automatic price hike if costs for critical production components increase.
Earlier this week, Puerto Rico Farm Bureau Dairy Sector President Gabriel Cordero said that since August, the cost of feed — which represents half of a dairy plant’s operational expenses — had increased by 20 percent.
While farmers are seeking an increase of about 19 cents per quart, the hike will most likely hover at around a nickel per quart, industry sources said Wednesday.
Business reporter with 27 years of experience writing for weekly and daily newspapers, as well as trade publications in Puerto Rico. My list of former employers includes Caribbean Business, The San Juan Star, and the Puerto Rico Daily Sun, among others. My areas of expertise include telecommunications, technology, retail, agriculture, tourism, banking and most other segments of Puerto Rico’s economy.