Wiseman increases farmgate milk price

Robert Wiseman Dairies has increased the farmgate milk price by 0.3p/litre from next month to 24.32p/litre.

The price will take effect August 1 and will be guaranteed for two months.

The increase was due to better returns from the bulk cream market in the last quarter, said Wiseman's milk procurement director Pete Nicholson.

But the commodity markets remain weak and it's too early to call an end to the recent period of volatility, he said.

Wiseman's farmgate milk price from October will be confirmed in late September once the company has reviewed the latest bulk cream returns and the positioning of its milk price in comparison to competitors.