It takes the standard A price to 26ppl.
Meadow Foods has announced that it will be reducing its milk price by 1.75ppl from April 1, taking their standard A litre milk price to 26.00ppl due to ‘continued pressure’ within the dairy markets.
It will apply to the flat rate element on the price schedule.
Meadow Foods attributed the fall to continued pressure within the dairy markets which ‘has seen milk fat lose up to 45 per cent of its value from the historic high of last autumn’.
It added the value of skimmed milk powder remained weak with large stocks having a negative impact on the market, while UK milk production continued to increase at a steady pace.
Mark Chantler, chief executive at Meadow Foods, said: “We understand that producers will be frustrated with this reduction, but this movement reflects weakening prices in the UK, which have also been reflected by other processors in their latest price announcements.
“We regret this market trend and hope the price stabilises in the near term. We will continue to monitor the situation very closely.”
Mr Chantler added: “We’d also like to extend our thanks for the assistance and understanding of all those affected by the severe weather conditions over the last week.
“They were truly exceptional circumstances.”