Milk facing price increase over the summer

Different brands of fresh milk are displayed at a supermarket in Seoul on Tuesday.

A subcommittee consisting of seven members from the Korea Dairy Committee board was created on Tuesday and will negotiate the prices of raw milk for a month. After the subcommittee settles on a price, it will be voted on by the board of directors, and will be reflected in market prices from Aug. 1.

Raw milk prices, which reflect farm production costs and market conditions, can rise by 26 won (2 cents) per liter this year.