Tesco has slashed the price of its milk for the first time since May 2020, with the retailer saying the move would 'not affect' farmers.
The UK's largest retailer announced that it has cut the price of its four pint bottle from £1.65 to £1.55.
Two pints will be reduced by 5p to £1.25, while a single pint will also fall by the same amount to 90p.
The supermarket explained that its costs for buying in milk had declined, so it had decided to "pass that reduction on to customers".
Jason Tarry, Tesco's UK chief executive, said the move would "not affect" the price the retailer pays to its farmer suppliers.
"We've seen some cost price deflation for milk across the market in recent times, and we want to take this opportunity to pass that reduction on to customers.
“This will not affect the price we pay our farmers," he said, "Our Tesco Sustainable Dairy Group was set up to ensure that farmers across the UK get a fair, independently-set price for the milk they produce for us.
"Our model gives farmers security when the market price for milk falls below the cost of production and reflects our long-standing commitment to our farmers."
It follows First Milk announcing a substantial milk price fall for its farmer suppliers from next month, declining by 3.40p per litre.
Dairy farmers supplying Muller who meet the conditions of the processor's Advantage scheme will also see an May milk price decline, of 2.5ppl.
