First Milk has announced a reduction in the core milk price it pays to its farmer members of 0.75ppl from 1 February 2009.
Peter Humphreys, chief executive of First Milk, commented: "Despite the protection that the exchange rate provides, the decline in dairy prices around the world is now affecting every sector in the UK market. This has led to a situation where even though milk production in the UK continues to drop, falling global dairy prices combined with a substantial rise in imports coming into our market, is pushing the price of raw milk downwards.
"While we always look to minimise price reductions to our members, unfortunately in this case we cannot avoid the dynamics of the market."
Group Communications Director, First Milk
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