The processor will harmonise its four regional pools into one standard litre milk price, which will stand at 26p/litre from the start of next month.
The drop equates to a fall of about 1p/litre for First Milk’s 900 UK dairy farmers.
The new standard litre will be measured with constituent contents of 4.0% butterfat and 3.3% protein and will combine a flat manufacturing price paid to the Lake District and Haverfordwest and a liquid price paid to its Scottish Mainland and Midlands and East Wales pools.
First Milk say the development was made in response to member feedback and has the full backing of the member council and board.
We know that this price drop will be disappointing news for our members and continue to do all that we can to minimise the impact of reductions,” said First Milk farmer director and vice-chairman Jim Baird.
“Whilst in recent weeks we have seen some recovery in the market, unfortunately, the overall global dairy commodity markets remain weaker than last year, which continues to impact on our returns.
“This more simplified and transparent approach on milk prices reflects the requirements of the business today and is a progressive step which unites our members across the country.”
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