Consumers are being warned they’ll be paying more for their milk as inflation hits the industry.

Rabobank’s Senior Analyst of Dairy and Consumer Foods Michael Harvey told Ben Fordham milk prices could go up 30 per cent.

“Hopefully, over the next 12 months, we should see some stability … but there are those risks that we see further disruptions.”

There have been heavy milk losses due to the wet weather across the east coast.

That’s coupled with ongoing labour shortages and high costs along the supply chain.

Press PLAY below to hear the full interview