Robert Wiseman Dairies has confirmed it will raise the price it pays for a standard litre by a further 0.13ppl from 1 May.
In latest increase adds up to a 0.76ppl price rise over the past three months, with Wiseman’s 750 suppliers now set to receive 19.51ppl.
The increase for May comes despite data from the Milk Development Council which said a drop in the value of cream should mean a 0.4ppl decrease in the farm gate milk price for the quarter from May 1.
Wiseman said it’s decision to shelve the reduction comes against a backdrop of rising cream prices in April and May.
The processor said it was “sufficiently confident” the 0.4ppl deficit would be recovered from improved returns from cream in the coming months.
Andy Bloor, Chairman of the Wiseman Milk Partnership, said the improved milk price was in the interest of “much-need” and “longer-term stability.”
“It’s good news for Wiseman Milk Partnership producers and for Wiseman’s other milk suppliers who will also benefit.”
Pete Nicholson, Wiseman’s Milk Procurement Director said: “This decision coupled with increases recovered from our customers means that Wiseman suppliers have a premium milk price and a more stable outlook going forward.”