MM milk bonus may be payable by Christmas
By Shelley Wright
MILK MARQUE has announced a bonus of 0.3p/litre for milk supplied in the seven months to Oct 31.
The exact amount of bonus will be calculated on individual composition. The 0.3p/litre applies to Milk Marques standard litre, which from Apr 1 to Sept 30 was 4.1% butterfat and 3.35% protein. It was then changed from Oct 1 to 4.1% butterfat and 3.3% protein.
The money will be paid in the December milk cheque, depending on the decision being ratified by members at an extraordinary general meeting which will be convened shortly. The EGM is needed to change the rules to allow such a bonus to be paid part way through a financial year.
In a letter to Milk Marque members, chief executive Andrew Dare thanked them for their support during the first year.
The bonus is in addition to the recently announced increase in the standard litre price to 25p/litre from October. Mr Dare added: "It is our intention to pay a similar bonus for the months of November through to March. An announcement will be made in the spring to confirm the amount and the timing of the payment."
The bonus money is thought to be a result of the summer drought.