First Milk has today announced that its November milk price will increase by 0.50 pence per litre.
This means the British farmer-owned co-op's liquid standard litre will increase to 27.75ppl.
Its manufacturing standard litre will increase to 28.69ppl, both including its member premium.
Robert Craig, vice chairman and director, said the increase was a result of the co-op's strong business performance.
He also said there were improved market returns, particularly from the cheese market.
However, he issued a warning: “There is considerable potential for disruption in the coming months, with Covid-19 on the rise and the terms of our departure from the EU still to be agreed.
"As such, there remains significant uncertainty around milk prices in the months ahead.
"We continue to pay out what we can to our members to provide as much stability as possible in these uncertain times,” Mr Craig said.
