Meadow Foods is the latest dairy processor to announce a major milk price increase from July as producers continue to face ongoing inflationary cost pressures.
The announcement by the Chester-based firm means that all producers will see their standard litre milk price rise to 46p per litre, a 3.75ppl increase.
The new rate for the equivalent manufacturing litre will be 46.625 pence per litre, commencing from 1 July 2022.
This is an industry leading price for July and means the business has increased its milk price by 16ppl this year alone.
The processor is a major supplier of value-added ingredients to the food industry which processes more than 550 million litres of milk each year.
Jim Bebb, supply chain director at Meadow Foods said: "This latest price rise allows us to maintain our position at the front of the pack.
"[We will] continue to support our producers with the ongoing inflationary cost pressures they face on farm as well as the increasing cost-of-living challenges."
He added: "This is our 7th consecutive monthly rise which has been made possible by the positive market returns we receive for our quality dairy ingredients.
"We will continue to watch the market and milk volumes closely, however remain committed to supporting our producers and passing back further increases as soon as we are able.“
Dairy farmers supplying Muller who meet the conditions of the processor's Advantage scheme will also see a substantial milk price increase, of 4.5p per litre.
Those producers who follow the programme will see their milk price rise to 46 pence per litre from 1 July 2022.