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A farmer-owned dairy co-operative has announced it will increase on-farm milk prices by 5 cents per liter as farmers face “unprecedented” costs.

The increased payments, up to 97c/L, will come into effect in May and Norco said it would put an extra $1 million into farmers’ pockets every month.

They called on the wider industry to also support struggling producers.

Chief executive Michael Hampson said ongoing geopolitical uncertainty is putting continued pressure on the sector, with fuel and fertilizer shortages leading to sharp increases in input costs for farmers and across the supply chain.

“These cost increases are unprecedented, with our farmers paying double for diesel, triple for fertilizer and 40 percent more for freight,” Hampson said.

“These pressures are simply unsustainable without meaningful support across the supply chain – and this price increase is a small but important step to help offset these pressures.”

Hampson acknowledged that Norco’s milk price would increase, but said the additional costs would go back to the community.

“To put it into perspective, the increase is unlikely to be more than 30 cents a week for the average household – but that 30 cents will significantly ease the pressure on our farmers and safeguard their livelihoods,” he said.