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.
