This will take its milk price on a manufacturing standard litre to 43.45ppl from July 1, and 46.50ppl from August 1, including the member premium.
Commenting on the announcement, Robert Craig, farmer director and vice chairman, said:
“We recognise that the rate of increase in our milk price may be slower than some others, given the scale of market change. This is purely a timing issue, and our business model enables us to recover inflationary costs and market movements from our customers over time.
“We remain completely focused on continuing to pass on these returns through the milk price to our members as soon as they are affordable.”