By FWi staff
MILK Marque has announced that its dairy farmer members are to receive 0.29ppl as additional payments on all milk supplied in the year to 31 March, 1999.
A balancing payment of 0.04ppl will be made in July, on top of the 0.25ppl already announced as an advance payment in June.
This brings the final average price paid to members for 1998/99 to 18.33ppl, net of all adjustments.
Managing director Paul Beswick said that, despite the difficult trading market, Milk Marque had still marketed 5832 million litres of milk.
“Weak markets and the strength of Sterling held milk prices down across the industry,” he added.
Turnover reduced by 17% to £1.2 billion, compared with £1.44bn in 1997/98, as a result of lower milk prices and volumes which fell by 8.5%.
“The Monopolies and Mergers Commission inquiry into the supply of raw milk in Great Britain has dominated the year, and the outcome is awaited by all sides of the industry,” said Mr Beswick.
“Once the outcome is known, we will be able to develop our business. We are the UKs leading marketing business, competing with the best in the world into the next millennium.
“We can best meet our members interests by building relationships with our customers and investing in processing capacity as the market develops,” he said.
“This is the best way forward for our business.”