British-owned Dairy Crest has announced it will hold the November milk price and introduce a "price floor" for December and January.
The dairy company has agreed with Dairy Crest Direct (DCD) to hold the milk price it pays to its Davidstow farmers for November at 30.9ppl.
This includes the supplementary payment of 0.5ppl introduced in September to reflect current feed shortages.
Furthermore, it is introducing a milk price floor to this combined price of 30.9ppl through to the end of January 2019.
Chris Thomson, Group Procurement Director at Dairy Crest said: “During the last month we have seen commodity markets weaken.
“However, in order to provide certainty to our 330 South West farmers as we go into winter, we have made a commitment to hold our combined milk price at 30.9ppl for November, as well as introducing a floor for a further two months.”
DCD Chairman, Steve Bone added: “Recognising weakening markets, to give our members security we have agreed an effective minimum price of 30.90ppl until the end of January 2019.”
