30th June 2014
From 1 August the milk price for First Milk's liquid pool will reduce by 1.75ppl and the milk price for its manufacturing pool will reduce by 1.25ppl.
First Milk chairman Sir Jim Paice MP said:
"Although there are signs that the dramatic falls in price for most commodities are behind us that does not mean that the consequences are not still being felt. These prices fell by almost 30% which is considerably more than the milk price has fallen. In addition the extra supply during the flush, which was paid for at the higher price, has to be sold after prices have fallen. All this has resulted in the actual milk prices that ourselves and some other players have now announced.
"While we cannot control global and European market prices, the Board of First Milk is working hard to improve the situation and has reduced overheads considerably and will continue to do so. We are also constantly analysing prices from various dairy markets to ensure we move milk around where possible to maximize returns. We are as anxious as all members to see the end of price cuts."
Notes to editors
About First Milk
First Milk is the UK's only major dairy company, 100% owned by British farmers. It supplies a wide range of dairy products and dairy ingredients to customers in both national and international markets including block cheeses, soft cheeses, raw milk, butter, skimmed milk powder, whey proteins and sports nutrition brands.
It is headquartered in Glasgow with seven manufacturing sites across England, Scotland and Wales.
First Milk's aspiration is to provide consumers with great-tasting nutritious food, while delivering value for every part of its farmers' milk. As a business with a passion for innovation and sustainability, it is constantly seeking fresh ways of working with partners across the supply chain to drive pioneering solutions.
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