UK: Dairy Crest agrees new milk pricing formula
From 1 April, the formula will be offered to farmers on a voluntary basis
UK dairy processor Dairy Crest has agreed a formula for calculating the price of milk it pays farmers on standard liquid contracts.
From 1 April, a cost-of-production formula will be offered to farmers on a voluntary basis and will be made subject to an overall maximum volume limit, the company said today (17 December).
"Initially we plan to agree an overall maximum milk volume to be priced through the formula with offers being confirmed on a first come, first served basis," said Dairy Crest group milk procurement director Mike Sheldon. "We want a long-term relationship with our farmers and are determined to deliver greater flexibility and choice in the consideration of contract options, as well as trust in the pricing process."
Details of the formula are still being finalised, Dairy Crest said, but will take into account "movements in both key on-farm costs and dairy market indices".
"I believe this is a real step forward," Sheldon added.
Adams Foods has moved its Mu cheese brand into the milkshake category with a launch in Tesco....
Campbell Soup Co. became the third major multinational to invest in the buoyant organic baby food sector in a month with a deal to buy US firm Plum Organics. Danone is another of the three food giants...
Plum Organics this week joined Happy Family and Ella's Kitchen as three organic baby food brands set to have new, multinational owners. Campbell Soup Co. is to buy Plum, joining Danone and Hain Celest...
- 10 things to learn: Campbell's plans for growth
- On the money: Unilever aims to get food growing
- Mead Johnson wrestles "irrational" Chinese market
- Will Bonduelle swoop for Green Giant?
- Interview: Flapjacked looks to ride protein wave
- Hain Celestial buys plant-based food firm Mona
- UPDATE: Danone merges Dumex with Mengniu
- Danone eyes "return to growth" in fresh dairy
- Unilever sees growth in food, refreshments
- US House passes anti-GMO labelling bill