First Milk has announced that its standard litre milk price will remain unchanged at 27.75p per litre from May 2019.
The monthly pay out for May will remain at 27.5ppl for the liquid standard litre (4% butterfat, 3.3% protein) or 28.43ppl on a manufacturing standard litre (4.2% butterfat and 3.4% protein).
The additional member premium payment will be calculated and accrued monthly and paid as a lump sum in April 2020.
The member premium for the 2019 milk year is 0.25ppl. The member premium for future years will be decided annually by the board.
The premium will be adjusted based on each member’s achievement of their capital target.
Jim Baird, Vice Chairman of First Milk, said: “Amid ongoing uncertainty and downward pressure in domestic dairy markets we are working hard to continue to provide as much stability as we can for our members.”
