First Milk has today (8 July) announced a price increase for its dairy farmer suppliers.
Those in its cheese and balancing pools will get an extra 0.38p/litre, taking the standard litre price to 26.50p/litre, while farmers in the liquid pool will receive an increase of 0.2p/litre, to 26.4p/litre. These increases have been backdated to 1 July 2011.
The co-op said the increases were a result of further business efficiencies and better market returns from cheese.
“We’re making good progress with growing our brands, keeping our cost base tight, expanding our product and customer spread and developing a range of profitable partnerships along the supply chain,” said First Milk’s chairman Bill Mustoe.
“All that momentum helps us to achieve our main objective, which is returning cash to our producers as quickly as possible.”