The Co-operative Group has upped the premium it pays its dairy farmers for their milk in a bid to soften the blow following Robert Wiseman’s price cut, announced a week ago.
The Co-operative has pledged to pay farmers an additional 0.65p per litre for their milk, taking the total premium they pay – on top of the basic price farmers receive from Robert Wiseman Dairies – to 2ppl.
It comes after Robert Wiseman – which runs the milk supply group that provides milk to The Co-op – announced a 1.7ppl cut to its farmers’ milk price last Friday.
“Against a backdrop of a competitive retail market, we are doing everything we can to attempt to alleviate the pressures facing dairy farmers during these tough trading conditions,” The Co-op said in a statement.
The Co-op’s support for its dairy companies went beyond simply what they paid for milk and it remained in constant dialogue with farmers, the group claimed.
“We fund a series of measures designed to help our farmers achieve higher levels of efficiency and reduce farm costs,” it said, adding that it would keep the situation under review.