Extra 2ppl On DFOB Milk
UK - Former Dairy Farmers of Britain producers are to get an extra 2ppl on milk they supplied to the receivers in the wake of the co-operative’s collapse.
3 March 2011
1 minute read
PricewaterhouseCoopers, joint receivers and the managers of Dairy Farmers of Britain Ltd, made the announcement this week. The additional payment was the result of further cash collections from customers over the past six months, they said. It is for milk supplied from June 3, 2009 until individual producers found new buyers.
Well over 1,000 NFU dairy farming members were affected when the farmer co-operative went into receivership. In the aftermath, many producers received prices around the 16ppl mark.
NFU dairy board chairman Mansel Raymond said: “I am very pleased to hear that ex-Dairy Farmers of Britain suppliers will receive an additional payment for the milk that they supplied to the receiver.
“The scramble to find a milk buyer in the wake of the company’s collapse left many dairy farmers with no alternative but to continue supplying milk to the receiver for a very low value. This final payment by the receivers doesn’t compensate for that, but it will be a welcome payment nonetheless in light of the devastation and disruption caused by the collapse of the company.”
The co-operative will effectively be wound-up to-day (Wednesday). HMRC is putting it into compulsory liquidation, although receivership activities are expected to continue for many months. The extra payment will not affect the financial outcome for creditors and farmer members.
TheCattleSite News Desk
