Wiseman Dairies to raise July milk price

Robert Wiseman Dairies (RWD) has confirmed that it will increase the milk price paid to its farmer suppliers by 0.4p (0.6US¢)/litre.

The increase, effective from July 1, takes RWD's price to 24.72p (37.38US¢)/litre, some 0.7p (1.06US¢)/litre higher than this time last year.

The company said the increase reflected its commitment to the maintenance of a stable, competitive milk price against a backdrop of sustained higher bulk cream values.

Latest DairyCo figures show that bulk cream prices averaged GBP1550 (US$2344.46)/tonne in June, GBP100 (US$151.27)/tonne up on May's price and some GBP620 (US$937.87)/tonne higher than June last year.

"Our intention is to continue building on our track record for offering producers a competitive standard milk price, and this increase reaffirms our position as a leading buyer of farm gate milk for the fresh milk sector," Wiseman's milk procurement director, Pete Nicholson, said in a statement.

"Our competitive positioning is of critical importance and it is essential that we continue to strike the balance between paying a leading milk price, and retaining the ability to compete within our sector of the dairy industry."

In May, Robert Wiseman Dairies announced a record pre-tax profit of GBP49.2 million (US$74.4 million), buoyed by higher cream revenues.