Farmer co-operative First Milk is increasing the milk price it pays to farmers in its manufacturing pool by 1.1ppl, taking their standard litre price to 30ppl. This increase will be done in two stages with a 0.6ppl increase from the 1st of July and a further 0.5ppl increase from the 1st of August.
First Milk chairman Bill Mustoe commented,
"We recognise that our members' expectations are high on milk price and that there continues to be pressure on farm costs due to the poor weather. We will keep their milk price under constant review.
"Our objective as always is to move the returns that we pass back to members as far and as fast as we can. With this in mind, discussions are continuing with all our customers.
"The strategy for the business remains squarely on investing in added value. Whether that be through acquisitions and joint ventures; investing in our processing assets to allow us to respond to consumer demand and produce a broader range of products; or investing behind strong brands like Lake District Dairy Co, as we have done recently with the launch of our Quark range.
"We remain confident that this added value route positions us best to deliver sustainable returns for members as we manage volatile markets now and in the future."
Notes to editors:
About First Milk
First Milk is the UK's only major dairy company owned by British dairy farmers.
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.
This has been supported through the recent acquisition of added value businesses, by rapid progress on launching new products and securing new customers in the UK and international markets.
For further information on First Milk, please visit www.firstmilk.co.uk or follow the company on Twitter @first_milk and YouTube www.youtube.co.uk/firstmilk1. A copy of First Milk's sustainability report is also available to download via its website - www.firstmilk.co.uk/sustainability/
For media enquiries, please contact:
Lee Truelove, head of communications, First Milk:
E: firstname.lastname@example.org T: 07767 241 507