Dairy farmers will be getting 19 pence per litre from United Milk for the milk delivered in May.
The price was confirmed this week for direct suppliers to UM's Westbury processing dairy, up from 18.6ppl. The liquid contract will be 18.24ppl.
The company said it was maintaining its policy of returning market-related prices to suppliers. Firm product markets and the continuing strength of the euro drove the decision.
Peter Bennett, UM's milk manager, said: "Westbury is doing what we said it would ­ returning market-related prices into producers' milk cheques with the minimum of delay.
"Currency changes are having an immediate impact on our price and that money is going straight into our producer accounts. We have also enjoyed very good factory performance through the month, with an average in excess of 2 million litres a day delivered to Westbury."