In news not seen for many months, one UK milk processor has this week announced that it will be increasing its milk price.
Meadow Foods announced that it will be increasing the price it pays for milk by +2p/L, with a +1p/L increase in July and a further +1p/L increase in August. This takes their standard litre milk price to 19p/L.
Simon Chantler, Executive Chairman at Meadow Foods, comments: “We are starting to see the green shoots of recovery in the price we are able to pay for our milk and wanted to pass this on to our producers as soon as it was possible.
“Although there is still some way to go before the pressure is lifted from producers, we feel that the slowdown in EU milk production over the flush period and a general tightening of supply are offering a better market outlook.
“These developments are the most positive we have seen for a number of months and this has led us to adopt a more optimistic position for the recovery of milk prices in the medium term.
“We know the last two years have been incredibly difficult for producers across the UK, Europe and the world and Meadow Foods hopes to be writing again soon to producers with further positive news on the market and milk price.”
Meadow Foods is the UK’s largest independently owned dairy group and leading supplier of milk based dairy ingredients to the food industry. Meadow Foods currently handles more than 525m litres of milk each year direct from over 550 farmer suppliers from across the North of England, Midlands and North & West Wales.
The company, founded in 1992, operates from factories in Chester, Peterborough and Holme-on-Spalding Moor and now employs more than 275 people
