Marks and Spencer has raised the price it pays farmers for milk under its Milk Pledge+ payment model, which is linked to the cost of production.
The company will increase milk payments by 1.322ppl, effective today (1 February). The move brings the headline price the retailer pays for milk to 33.58ppl.
M&S purchases its milk though dairy processor Dairy Crest.
The price retailers paid for milk hit the headlines in the UK last year, when farmers claimed rising costs were making their businesses unsistainable. Since then, a number of the countries multiples have moved to a model that factors in the cost of production. M&S emphasised its milk pricing policy has been in place for “more than 12 years”.