UK Dairy Processors Announce Consecutive Milk Price Increases Amid Supply Shortages
Source: The DairyNews
Barber's, a Somerset-based cheese manufacturer, has announced a milk price increase of 1.03 pence per litre for July 2024, setting the new price at 41.28 pence per litre effective from July 1.
This adjustment marks the company's sixth consecutive milk price rise in the first seven months of 2024, responding to ongoing dairy market dynamics characterized by a significant supply shortage across the UK and several EU member states.
The company stated, "The current dairy market surge is very much a ‘lack of milk supply’ driven response, the UK and many EU member states continuing to record milk supply levels in deficit vs last year. As a consequence of the resultant market positivity, we are again increasing our milk price."
In related industry developments, Muller has also raised its milk prices by 1 penny per litre for July. Farmers who are part of Muller’s Advantage scheme will see their rates adjusted to 39 pence per litre.
Additionally, First Milk has indicated a forthcoming price increase of 0.8 pence per litre starting next month, aligning with broader market trends of rising dairy prices due to constrained milk supplies.
These consecutive price hikes reflect a broader trend within the dairy sector, as processors adjust to market conditions and strive to ensure sustainable operations amidst fluctuating supply levels.
The company stated, "The current dairy market surge is very much a ‘lack of milk supply’ driven response, the UK and many EU member states continuing to record milk supply levels in deficit vs last year. As a consequence of the resultant market positivity, we are again increasing our milk price."
In related industry developments, Muller has also raised its milk prices by 1 penny per litre for July. Farmers who are part of Muller’s Advantage scheme will see their rates adjusted to 39 pence per litre.
Additionally, First Milk has indicated a forthcoming price increase of 0.8 pence per litre starting next month, aligning with broader market trends of rising dairy prices due to constrained milk supplies.
These consecutive price hikes reflect a broader trend within the dairy sector, as processors adjust to market conditions and strive to ensure sustainable operations amidst fluctuating supply levels.
