Ocado has joined Aldi, Lidl, Asda, Tesco and Sainsbury’s in cutting milk prices as production costs start to decline.
The online-only supermarket has dropped the price of its own-brand skimmed, semi-skimmed and whole four pint varieties by 10p to £1.55, and its two pint offerings by 5p to £1.25.
While each of the products are now marked as having a ‘New Low Price’ on Ocado’s website, the retailer has not dropped the price of its one pint M&S skimmed, semi-skimmed and whole milk offerings, which remain at 95p.
These match the updated prices at Big 4 grocer’s Tesco and Sainsbury’s, which were the first to slash the cost of milk last week, and marked the first time that Tesco had dropped its milk prices since May 2022.
Aldi, Lidl and Asda were quick to follow as the grocery retailers cut the price of a pint of milk to 90p, down from 95p.
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According to Arla, the retail price reductions come as large wholesalers have cut their prices by 5p a litre, as cows have produced more milk during the “spring flush”, which has led to oversupply.
Asda said that its drop in prices came as “swift action” to support customers struggling with the cost of living, while Ocado has also confirmed the move looks to help customers save money on their weekly shop.
“We know that value is front of mind for our customers right now, particularly when it comes to the items they but week in and week out,” an Ocado spokesperson said.
“We know every penny counts and – as milk is a staple on many family shopping lists – that these savings will help make food budgets stretch a little further.”
This follows Ocado’s latest investment in value to support shoppers amid the cost-of-living crisis, as last month the retailer launched its new Price Promise, which looks to compare prices against over 10,000 like for like products at Tesco.
