Germans seen hoarding milk amid dairy strike
DPA/The Local · 31 May 2008, 10:29
Published: 31 May 2008 10:29 GMT+02:00
German consumers react extremely sensitively to changes in the price of milk, as it's a price that practically everyone knows, said Steven Brechelmacher, dairy market expert with Nuremberg-based consumer research group GfK, in an interview with DPA.
Even the slightest indication that prices could rise is enough to spur panic-buying of milk and dairy products, he said, adding that such behaviour was especially typical of German consumers.
Brechelmacher said Germans' sensitivity to the price of milk comes from the fact that it is regarded as a dietary staple.
“There's a high purchase frequency for this product, as well as for other dairy products,” the GfK expert said. “That means, customers have milk in their carts almost every time they go grocery shopping.”
“Practically every consumer knows the current price for a litre of milk, and they notice a price increase immediately,” Brechelmacher said. In contrast, he added, it takes consumers longer to notice increases in the price of bread and other baked goods.
German dairy farmers launched milk delivery strikes five days ago to protest low milk prices. According to industry observers, dairy farmers in other European countries have begun joining in the strike action, refusing to supply milk to dairy factories.