Volatile markets signal fall in milk price for Lake District Creamery owner

MARKET FORCES: First Milk chairman Jim Paice

MARKET FORCES: First Milk chairman Jim Paice

First published in News

FIRST Milk, which owns the Lake District Creamery, has blamed volatile dairy markets for its decision to lower the price it pays for milk.

Chairman Sir Jim Paice said: “As a result of falling commodity prices and a continued decline in UK market returns, from September 1 we will need to reduce the price for our manufacturing pool by 0.5 pence per litre and by 0.65 pence per litre for our liquid pool.

“We have highlighted the falling global and European prices in our member communications over the last few months, and unfortunately at this stage there is no sign of a turnaround.

“We will continue to monitor returns closely and report back to members each month.”

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