Dairy farmers supplying Muller will receive a milk price of 47ppl, including the 1ppl Muller advantage premium which is paid quarterly in arrears.

Head of agriculture at Muller milk and ingredients Richard Collins said: “With falling commodity prices3 which are driven by global markets and milk supply ahead of forecast, the value is being negatively impacted.

“As always we will do everything that we can to support our supplying farmers and protect the security of supply.

“We know that farmers want partnerships they can rely on for the long term, and we will continue to closely monitor the various factors which influence farm gate milk price, including farm supplies.”

Meanwhile, First Milk has confirmed that its member milk price will remain unchanged for January 2023 at 49.69ppl on a manufacturing standard litre, including the member premium and regenerative farming bonus.

Commenting on the announcement, Robert Craig, farmer director and vice-chairman, said: “We have worked hard to build strong, stable relationships with our customers, and I am pleased that we can continue to provide milk price stability for our members in these uncertain times.”

In a move that has further strengthened its commitment to the Cumbrian dairy sector, the farmer-owned co-operative officially opened the company’s £20 million investment at its Lake District Creamery in Aspatria

Capacity at the site has increased by 40 percent over the last four years.