Wiseman confirms milk price reduction
The decision follows a collapse in the value of the cream in each litre of farm-gate milk over the last 12 months. From its peak, the commodity fell in value by the milk price equivalent of more than 5ppl. (source DairyCo Datum)
Wiseman had hoped that the need for further adjustment to its milk price following a 2ppl reduction which took effect in June could be negated by a sustained and significant rally of commodity market values.
But whilst markets have improved from the lows of recent weeks, they remain at levels not seen since early 2010, when the average DEFRA milk price in the UK was 24.19ppl. Wiseman’s standard litre price from August will be 24.73ppl.
Pete Nicholson, Milk Procurement Director at Robert Wiseman Dairies said: “We know that this news will come as a major disappointment to Wiseman Milk Group members.
“We have done everything we can to minimise the reduction in our farm gate milk price but we must now reflect the substantially lower returns from the markets which we serve.”
Roddy Catto, Acting Chairman of the Wiseman Milk Partnership said: "Many WMG members are still coming to terms with the 2ppl cut in June and to be faced with a further 1.7ppl cut will be devastating. The Wiseman Partnership Board put forward a very strong and justifiable case to keep the milk price as is. We have been unable to change the company position and as such we certainly do not give this move our approval. We will however continue to work with the Company to build a recovery back to milk prices that reflects a more sustainable position for our members at the earliest opportunity."
Please enter your name
Please enter your comment
Your comment submitted successfully.Please wait for admin approval.
Some error on your process.Please try one more time.
GM crops are good for the economy and can reduce the amount of pesticides u...
Demand from smaller European markets has helped drive strong growth for UK ...
A lack of engineers, not enough people promoting the land-based industries ...
Environment Secretary Elizabeth Truss is launching the National Pollinator ...
Agricultural specialists have welcomed a potential financial boost for youn...
As retailers continue to participate in a highly competitive race to the bo...
New farm business income data from Defra, which focus on income from March ...
Agriculture has remained one of the industries in which workers are most li...
Prime arable land in the UK has seen a substantial year-on-year growth in p...