This means its liquid standard litre will increase to 27.75ppl, whilst its manufacturing standard litre will increase to 28.69ppl, both including its member premium.
Commenting on the announcement, Robert Craig, vice chairman and farmer director, said:
“This increase is a result of our strong business performance and improved market returns, particularly from the cheese market.
“There is considerable potential for disruption in the coming months, with COVID-19 on the rise and the terms of our departure from the EU still to be agreed. As such, there remains significant uncertainty around milk prices in the months ahead. We continue to pay out what we can to our members to provide as much stability as possible in these uncertain times.”