Today (01 October) First Milk is announcing an increase to 28ppl, in the standard litre price it pays to producers in its cheese and balancing pools. This price increase was achieved by First Milk taking a forward view on where prices are going, having some robust conversations with its customers and identifying some further business efficiencies.
Due to the phasing of delivering the increased market returns and business efficiencies, its cheese pool increase will happen in two stages: 1ppl on 1 November and 0.75ppl on 1 December. For balancing pool members, there will be an increase of 0.65ppl on the 1 December.
First Milk chairman Bill Mustoe comments: "We know that all feed costs are rocketing, silage has been poor in most parts of the country, and farms are looking at a hard winter. So it was important that we made this move. However the job is never done for us on squeezing the business to get more returns for our farmers"