Farming News - First Milk announces April milk price hold but total returns to increase by 0.25ppl
First Milk announces April milk price hold but total returns to increase by 0.25ppl
First Milk has today announced that its milk price from April 1, 2020 will be held at the current level. Total member returns will increase, however, as its member premium is increasing from 0.25ppl to 0.5ppl from April 1 for members who have reached their capital target. This means that its liquid standard litre price, including member premium, will increase to 26.75ppl and its manufacturing standard litre will increase to 27.63ppl.
Commenting on the announcement, Jim Baird, farmer director and Vice-Chairman said:
“Not only will our members shortly be receiving their member premium payment for the 19/20 milk year, but they are also benefitting from the doubling of our member premium from April 1. Despite inevitable uncertainty in the market, I am delighted that we are able to reward member loyalty in this way, providing our farmers with some much-needed stability and recognition of their commitment to First Milk.”