The board of Britain's largest milk processor – Arla – has met to set a price for May milk supplies this afternoon.
The announcement takes Arla’s standard litre price to 30.50p/L - making it the highest for farm-gate milk price.
Arla Foods board director, Johnnie Russell said: “I am confident this will be welcome news to our farmer owners, who have been experiencing challenging weather conditions, which have dampened milk volumes from farm.
“I am pleased to say that the overall outlook for the coming months remains positive.”
The news will please members of the National Farmers' Union of Scotland, who just days ago said 30p/L was "attainable" under current market conditions.
NFU Scotland’s Milk Committee visited First Milk’s headquarters in Paisley last week. The farmer-owned co-op also announced a milk price increase of 1.2p/L. By comparison, it brings First Milk's standard litre to 27.2p.
New UK managing director
It comes just days after the firm announced Ash Amirahmadi, its senior vice president – sales in the UK, will take the lead on its UK operations.
Amirahmadi takes over from current UK managing director, Tomas Pietrangeli, who is leaving the company to become chief executive of Danish retail group Dagrofa.
He will take up his new role on July 1, 2018.