The processor will keep its standard litre price at 28.3p/litre (4.1% butterfat and 3.28% protein), for the fourth consecutive month for its 150 or so producers.
This equates to 29.13p/litre when applied to milkprices.com’s manufacturing league table specs (butterfat 4.2% and protein 3.4%), or 30.16p/litre if milk is delivered at identical average constituents as supplied in February.
Milk supply growth
The business said UK milk production had moved from a low point of 12.9bn litres in 2012-13 to an estimated 14.8bn litres for this milk year, which would be the highest UK milk supply for 32 years.
This rise of 1.9bn litres is roughly the same as the total amount of liquid milk sold by Tesco, Sainsbury’s and Asda each year.
Irish milk production has also rocketed by 2.5bn litres over the same period.
The growth in supply is creating a challenge for processing capacity, with spot milk prices currently about 20p/litre – the lowest for three years, it said.