First Milk, the UK’s first regenerative dairy business, has announced that from April 1st 2024, its milk price will increase by 0.75ppl to 38.75ppl for its manufacturing standard litre, including the member premium which will remain at 0.5ppl for the year starting April 1st 2024.
The increase incorporates the addition of a new variable regenerative bonus. The introduction of a variable regenerative bonus marks a significant step forward for First Milk and is designed to acknowledge and reward farmers for their dedicated efforts in advancing regenerative farming practices.
Commenting on the announcement, Mike Smith, farmer director and vice-chairman, said, “The introduction of our variable regenerative bonus is an important development, recognising and rewarding the efforts that our members are putting into driving progress on our regenerative journey. This will be paid in addition to the existing 0.5ppl regenerative bonus, which will remain linked to completion of the regen farming plan each year.”
The April milk price increase and the regenerative bonus reinforce First Milk’s dedication to fostering positive change within the dairy industry while providing tangible benefits to its farmer members.