First Milk has confirmed A price increases for February of between 0.85ppl and 0.95ppl.
This is the eight milk price increase in a row and reflects both the improvement in market returns and the performance of the new First Milk business.
Mike Gallacher, CEO commented: “We are pleased to be again increasing our milk prices, with cumulative increases since June now around 11ppl. This is the eighth milk price increase in a row reflecting both the improvement in market returns and a leaner, more focused First Milk business.
“We anticipate updating members again later this week with positive news on the refinancing of the business.”
Farmers are calling for an increase in milk prices as being 'needed' and 'justified', as the end of January will mean the end of seasonal bonus payments for many.
The Ulster Farmers’ Union says there is a strong case for a higher base price.
Dairy committee chairman, William Irvine, said that while the bonus payments have brought welcome relief to hard pressed farmers over the past three months they have disguised a still poor base price for milk.
