IDB price index continues to rise
The Irish Dairy Board’s (IDB) Production Price Index (PPI) continued to show growth in December following the first fall in 16 months in October.
The IDB released its monthly PPI yesterday. The index showed a return value of 133.6, which indicates a 33.6 per cent increase in market returns when compared to 2010.
The PPI has confirmed the fantastic year 2013 has been for dairy returns in Ireland. Since its starting point in January of 111, the index rose significantly over the spring and summer months peaking in September at 133.7. With the December result only marginally behind 2013’s peak in September, the result points to a positive start to the New Year for dairy returns.
The PPI is a rolling monthly indicator of market returns on primary dairy products sold by the IDB, typically butter, cheese, whole milk powder and protein products, relative to comparable returns generated in the base year of 2010.