21 Aug 2018
First Milk upgrades September price increase
First Milk has upgraded its September milk price following announcements which have ’boosted returns’
Alex Black
First Milk has upgraded its September milk price. The adjusted price increases for September are now between 1ppl and 1.67ppl with an additional 0.25ppl Business Supplement Payment due to stronger than budgeted business performance.
Last week, chairman Clive Sharpe wrote to producers to inform them of an ’up to 1.25ppl’ rise.
In a letter to members today (September 1), he said: "Over the last few days there have been some announcements that have further boosted our returns. Rather than waiting until October to reflect these, we wanted to pass these on immediately.
"There will be further price increases for October. We will update members mid-month with our forecast, and confirm the level of the increase later in September," he said.
"I hope this additional move reflects our commitment that as the market continues to rise; so will our milk price. In addition, we will continue to deliver on the Business Performance Supplement commitment."
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