IDB index holds stable in February
The Irish Dairy Board’s (IDB) Production Price Index (PPI) for February was stable on the January return, but was 22.5 per cent higher compared to the same month last year.
The past three months have seen the index stabilise with the return more or less flat over the period. This follows on from a fantastic 2013 for dairy returns with the index having only fallen once since January 2013.
The IDB released its monthly PPI this morning. The index showed a return value of 133.5, which indicates a 33.5 per cent increase in market returns when compared to 2010.
January of last year saw the index start the year at 111, the index rose significantly over the spring and summer months peaking in September at 133.7. With the January and now February results only marginally behind 2013’s peak in September, it 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.