The problem is not production cost, but distribution. A litre of milk is paid at 20c to the producer (never has been cheaper) yet it’s 2€ at the store. The producer makes a few cents on it.
The FoodCo is the one driving price up. Them and consumer behavior.
There’s quite a lot of expensive stuff happening in between filling a tank of milk at the farm, and a consumer purchasing a single bottle at a store near them.
It's an obvious hyperbole, don't get your khakis in a bunch. You have to have spent the pandemic under a rock if you didn't notice corporations significantly boosting their margins under the excuse of rising costs, especially in the food industry.
The FoodCo is the one driving price up. Them and consumer behavior.