Dairy Crest has increased its farmgate milk price

Dairy Crest has increased its farmgate milk price

UK dairy group Dairy Crest has announced an increase to its farmgate milk price.

The firm said today (15 May) it has changed the formula contract milk price for June. Producers will receive an extra 0.738p/litre from June, bringing the standard litre price to 30.7p/litre.

Dairy Crest said the increase reflects higher bulk cream values from March to April.

"The increase is the net change of each of the five indices within the model. The biggest impact within the month is the increase in bulk cream prices, with April GBP250/t (US$380/t) higher than March.