Ornua PPI increases for May
The Ornua Purchase Price Index (PPI) has increased for the month of May.
The PPI index for the month is 101.1 – which is up from the 99.8 (converting to 29.4c/L) in the previous month.
A spokesperson for the Irish dairy exporter explained that the increase is due to higher powder returns coupled with stable cheese and butter returns.
The latest Global Dairy Trade (GDT) event finished with a marginal rise in index, building on a previous slight increase on the last day out in May.
The latest tender – event 261 – concluded on Tuesday, June 2, with the GDT Price Index up 0.1%.
Lasting for two hours and 32 minutes, the event saw 166 bidders participate across 19 bidding rounds with 117 winning bidders emerging.
A total of 21,968MT of product was sold on the day.
On the flip side, cheddar dropped by 5.3% in index, while the butter and lactose indices fell by 4.4% and 4.1% respectively.
Anhydrous milk fat (AMF) reduced by 2.9% in index, while skim milk powder saw a slight drop of 0.5%.
Once again, sweet whey powder (SWP) was not available on the day.
The event marked back-to-back marginal rises for the GDT, following on from a difficult spring, which saw six reductions out of the previous seven tenders.