First Milk ups January milk price amid 'huge cost pressures'

First Milk has announced that its milk price for January 2022 will increase by two pence per litre amid 'huge inflationary cost pressures'.

The UK farmer-owned co-operative announced on Thursday (2 December) that its liquid standard litre will rise in the new year.

This means its standard litre will go up to 34 pence per litre - including its member premium, all other standard litre bonuses and charges.

Robert Craig, First Milk vice chairman said: “We are acutely aware of the huge inflationary cost pressure that our farmer members face this winter.

"Whilst this increase is undoubtedly a positive step, we will continue to work hard with our customers to recover increased costs from the marketplace."

He added the co-op would also focus on "any further mitigations we can take to reduce cost across our business."

It follows First Milk recently unveiling a new £12.5m capital investment in its cheese and whey processing facilities.

This includes £9m invested at its Lake District Creamery in Aspatria, Cumbria, with a further £3.5m invested at its Haverfordwest Creamery.