UK: Co-operative Group to increase milk prices
The Co-op will increase its price to GBP0.30 per litre with effect from 1 October
UK retailer The Co-operative Group is to increase the price it pays farmers for milk following a review of "market conditions".
The retailer said it will now increase its price to GBP0.30 (US$0.48) per litre with effect from 1 October.
"We are committed to supporting British farmers and to ensuring a long-term, sustainable future for British dairy farmers," said chief executive Steve Murrells.
"We are in continuous dialogue with our farmers and keep our payments under constant review, and we are making this move in recognition of the increasing input costs as we approach the autumn period, in particular animal feed prices, and the poor silage crop as a result of the unprecedented wet summer weather."
The move follows a decision by dairy processor Arla Foods last week to increase the price it pays its co-operative members in the UK for milk.
Dairy Crest also said this week it is "on track" to up the price it pays farmers for milk after postponing plans to cut prices amid the fierce protests this summer.
Growing competition for space in key emerging markets appears to have convinced Arla Foods that it needs to act now if it is to secure a market for its milk supplies beyond 2015....
In a week of results from major retailers, Carrefour cheered the market with improvement in France, upmarket UK grocer Waitrose highlighted its strong year and Belgium's Delhaize insisted its business...
Dairy Crest has launched a formula-based 12-month contract for non-aligned direct suppliers....
UK dairy group Dairy Crest has acquired small specialist regional milk group Proper Welsh Milk....
Arla Foods has initiated a recall of its Mauri branded Gorgonzola cheese after tests detected low levels of Listeria monocytogenes....
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