The price will drop by 1.25ppl to ensure ‘sales competitiveness’.
It means a Barbers Assured Standard Litre price of 29.051ppl.
Barbers highlighted competitive pressures intensifying as ‘almost all’ UK processors have applied at least one, and in some cases two, price reductions.
It added this meant it had come to conclusion it needed to reduce its milk price from March 1 to ensure ‘sales competitiveness within the broad customer base which ultimately underpins our supply chain’.
It follows five consecutive months above 30ppl.
“We hope that the critical balance of milk supply vs. demand stabilises across the coming weeks, as this will be the best remedy to reverse the current downward pressure across all dairy markets.”