Dairy Crest Direct suppliers who are on the liquid formula contract will receive an extra 0.588p/litre from August.
The price rise, which is due to market and input cost movements, means farmers are set to receive 31.787p/litre.
The elements affecting the price rise were increased fertiliser and fuel costs and higher cream prices. Retail milk prices and feed prices, which the formula is also based on, did not change.
This is the third time in the five months since the contract was launched that the price is better than the standard Dairy Crest liquid price at 31.390p/litre.