29th January 2015
Chairman Sir Jim Paice MP commented:
"We have committed to collect, market and pay for every litre of our members' milk. Month by month we will reflect the returns from the markets which we operate in. We continue to give 30 days' notice of milk price changes and our forecasted returns for March have enabled us to hold the milk price for this month."
Vice Chairman and Pembrokeshire dairy farmer Nigel Evans said:
"As a British farmer-owned business we are acutely aware of the impact that market volatility and our recent announcements are having on our members. We are both determined and confident that the steps we have taken have created a stronger business as we head into this year's spring peak. We remain very cautious about the impact of cheese stocks which are yet to come onto the market and the consequences of higher milk volumes being produced around Europe this spring. But right now markets are relatively quiet and therefore we are able to hold our March milk prices."
Notes to editors
The most recent payments to members occurred on 26 January with the next payment happening on 10 February. This is for December milk volumes based on a standard litre of 24.0ppl for our manufacturing pool and 22.70ppl for our liquid milk pool.
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 generates annual revenues of £610 million (2013/14 figures) and 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 to industry challenges.
For media enquiries, please contact:
head of communications
M: 07767 241507
M: 07984 349936