This means that its price on a manufacturing standard litre will increase to 32ppl, including the member premium.
Commenting on the announcement, Robert Craig, vice chairman and farmer director, said:
“We are all acutely aware of the unprecedented cost inflation hitting dairy farmers and impacting on the whole dairy supply chain. Whilst we know that this increase will not cover all that inflationary pressure for our members, it is a welcome move in the right direction. We will continue to work hard to mitigate increased costs and, with our customers, to recover them from the marketplace, so that we can get increased returns to our members as soon as we are able.”