First Milk Boosts April Milk Price by 0.75ppl, Introduces Innovative Regenerative Bonus
Source: The DairyNews
First Milk, a prominent UK processor, has announced a positive development for its dairy farmers with a 0.75p per litre increase in the milk price slated for April 2024. This adjustment brings the manufacturing standard litre's price, including the member premium, to 38.75p per litre.
The introduction of a variable regenerative bonus marks a significant step forward for First Milk. This bonus is designed to acknowledge and reward farmers for their dedicated efforts in advancing regenerative farming practices. Vice-Chairman Mike Smith expressed the importance of this development, emphasizing that it aligns with the company's commitment to recognizing and supporting farmers actively contributing to regenerative farming.
Mr. Smith highlighted that the variable regenerative bonus would be an additional incentive, complementing the existing 0.5ppl regenerative bonus. The latter remains tied to the successful completion of the regenerative farming plan each year. This multi-tiered bonus structure demonstrates First Milk's commitment to promoting sustainability and supporting farmers engaged in regenerative practices.
The April milk price increase and the innovative regenerative bonus reinforce First Milk's dedication to fostering positive change within the dairy industry while providing tangible benefits to its farmer members.
Mr. Smith highlighted that the variable regenerative bonus would be an additional incentive, complementing the existing 0.5ppl regenerative bonus. The latter remains tied to the successful completion of the regenerative farming plan each year. This multi-tiered bonus structure demonstrates First Milk's commitment to promoting sustainability and supporting farmers engaged in regenerative practices.
The April milk price increase and the innovative regenerative bonus reinforce First Milk's dedication to fostering positive change within the dairy industry while providing tangible benefits to its farmer members.
