This means that its liquid standard litre will increase to 28.0ppl, whilst its manufacturing standard litre will increase to 28.93ppl, both including the member premium.
It has also confirmed to its members that, for the milk year commencing April 1, 2021, its member premium will remain at the current level of 0.5ppl for members who have reached their capital target.
Commenting on the announcements, Robert Craig, farmer director and vice-chairman, said:
“Uncertainty in dairy markets has continued as a result of the ongoing COVID-19 restrictions across Europe and the lack of clarity on the UK’s trading relationship with the EU beyond the end of December. Whilst these challenges may impact future returns, First Milk has continued to perform well, and we remain focussed on passing back as much as we can afford in the milk price. In this time of ambiguity, we know our members value stability, which is why we are also pleased to confirm that our member premium will continue at the current rate in the next milk year.”