The Ornua Purchase Price Index (PPI) has lowered in index for the month of August, according to the dairy exporter.

Revealed by Ornua this morning, Wednesday, September 4, the PPI for August 2019 is 103.5, adjusted down from 104.0 in July.

The August index converts to 30.8c/L, including VAT, based on Ornua’s product purchase mix and assumed costs of 6.5c/L, the cooperative added.

The adjustment for August reflects weaker butter and cheese prices, partially off-set by improved powder prices, according to a spokesperson for Ornua.

GDT index slide

Meanwhile, yesterday, Tuesday, September 3, the Global Dairy Trade (GDT) Price Index seen another slight decrease at its latest auction.

Yesterday’s tender – Event 243 – concluded with the GDT Price Index down by 0.4%, with an average price of US$3,202.

Lasting three minutes short of the two-hour mark, the event saw 197 bidders participate across 13 rounds, with 153 winning bidders emerging.

A total of 39,589MT of product was sold on the day.

Skimmed milk powder (SMP) also recorded a slight rise of 0.7%.

All other products recorded relatively minor falls in index, except butter, which held steady, unchanged, and sweet whey powder (SWP) which, once again, was not available at the event.