First Milk Increases Prices for Cheese and Balancing Pools

On the back of strengthening markets, First Milk has increased the milk price for members supplying its cheese and balancing pools.

Milk prices have been increased from 1 August as follows:

  • Cheese pool: 0.65ppl increase
  • Balancing pool: 0.4ppl increase

Chairman Bill Mustoe, commented:

"On the back of strengthening markets, we have secured improved returns from the cheese and whey sectors. However, the liquid market has remained flat over the last few weeks and we have been unable to generate any further returns from that sector. As a result, our liquid pool price remains unchanged for August.

"We have delivered six increases in seven months across the membership, which continues to demonstrate our progression as a company. We are on a journey and continue to drive efficiency and change through the business, which will allow further moves to happen. We will continue to deliver returns back to members as they are earned in the business.

"With the business performance continuing to improve, we are looking to maintain this momentum and a key part of that is planning and shaping the business for the future. The Board has therefore decided that we should recognise the value of members committed to the ongoing supply of volume and as a result, future price increases will only apply to members who are not under resignation.

Ends

For further information, contact Jill Coyle, communications manager on 0141 847 6884 / 07825 625205.

Notes to editors:

These changes mean the standard litre prices are as follows from 1 August:

  • Liquid pool: 23.38ppl
  • Balancing pool: 23.02ppl
  • Cheese: 23.02ppl

 

2 August 2010

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