Ornua PPI drops for November
Ornua’s Purchase Price Index (PPI) has taken a hit for the month of November, reducing to 115 for this month – down from 116.4 for October.
While still higher than September’s figure of 114.3, today’s announcement nonetheless brings an end to six consecutive monthly increases in 2017.
In spite of the slight decrease, the PPI still compares favourably to every month – bar last month – since September 2014.
— Ornua (@ornua) December 13, 2017
Milk prices for the month of November are to be announced by processors in the coming days and weeks.
Lane to step down in 2018
In other Ornua news, it has been confirmed that the CEO of Ornua, Kevin Lane, will step down in mid-2018, following eight and a half years at the helm.
Ornua claims to be the largest exporter of Irish dairy products, with annualised sales of approximately €2 billion across 110 countries worldwide.
Lane – who became CEO in January 2010 – is set to leave the organisation at the end of June 2018, in order to spend time with his young family and to pursue other interests.
Commenting on the revelation, Forde said: “Kevin has successfully led Ornua through a period of significant change and growth, particularly the ending of dairy quotas in 2015.
“With great vision, Kevin together with his senior leadership team have strategically reshaped and refocused the Ornua business to unlock new routes to market and to drive international growth, while consistently delivering strong results for Ireland’s dairy processors and farming community.”