Meadow Foods will be increasing its milk price by 1p per litre from 1 September 2022 against the backdrop of ongoing inflationary cost pressures.
The announcement by the Chester-based firm means that all producers will see their standard litre milk price rise to 47p per litre.
The new rate for the equivalent manufacturing litre will be 47.625 pence per litre, commencing from 1 September 2022.
This means the business has increased its milk price by 17 pence this year alone.
Jim Bebb, supply chain director at Meadow Foods, said: “We remain focused on delivering a competitive and sustainable milk price and are pleased to pass back this further increase to our producers.
“We continue to monitor the market and milk volumes closely, as there are signs that the global markets are slowing slightly.
"Despite this, overall markets are still at record highs and milk volumes in the EU and the UK remain well below last year’s volumes with little sign yet of recovery due to high inflationary costs and the prolonged drought affecting many areas.
“This price rise allows us to maintain our position at the front and to continue to support our producers with the ongoing inflationary cost pressures they face on farm as well as the increasing cost-of-living challenges.”
It comes as First Milk recently announced a milk price increase of 2.14p per litre from 1 September.
Dairy farmers supplying Muller who meet the conditions of the processor's Advantage scheme will also see a price rise, of 1p per litre.
