UK: Arla Foods ups milk payments
Arla’s standard litre price of milk rises to 24.5 pence
Arla Foods UK is to increase what it pays its cooperative members for milk, the company said today, as commodity prices continue to firm in 2010.
Arla said that it would pay an additional 0.5ppl for milk supplied by members of its dedicated supply group, Arla Foods Milk Partnership (AFMP), from 1 June 2010, taking Arla’s standard litre price to 24.5 pence.
Hanne Søndergaard, deputy chief executive of Arla Foods UK, said: “Market projections suggest that commodity prices will continue to firm throughout 2010. This 0.5ppl increase on Arla’s standard litre is based on these predicted returns and is line with Arla’s objective of delivering a stable and competitive milk price.”
AFMP chairman, Jonathan Ovens, added: "This increase follows a period of discussion between AFMP and Arla. The partnership board will continue to monitor commodities and other factors affecting milk price on an ongoing basis."
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