It has also confirmed 130 farmers will participate in its new Muller Direct Futures Contract.
Muller has announced a 0.5ppl increase from November 1.
The increase means the standard milk price has risen by more than 10ppl since Autumn 2016.
Muller Agriculture Director Rob Hutchison said: “Global markets for dairy commodities like butter and cream are easing following the recent and unprecedented surge, with supply increasing and demand softening.
"However, we remain committed to offering a competitive milk price at each stage in the global dairy market cycle and are investing heavily to add value to the milk we buy," he said.
“We are also working with farmer suppliers to ensure that production is more closely aligned with the requirements of our customers, and to introduce and encourage the use of tools which are designed to help manage milk price volatility.”
Muller has also confirmed 130 farmers were participating in its 100 million litre Muller Direct Futures Contract
The new contract allowed producers to fix a monthly price for up to quarter of each farmer’s milk production for up to 12 months ahead.