Ornua PPI increases for October

The Ornua Purchase Price Index (PPI) for the month of October has continued its positive rise from last month, increasing once again, according to the dairy exporter cooperative.

Released today, Thursday, November 7, the index for October 2019 is 105.6, according to Ornua.

This is adjusted from 103.8 recorded in September 2019.

The October index converts to 31.5c/L including VAT, based on Ornua’s product purchase mix and assumed costs of 6.5c/L, the cooperative added.

The adjustment for October reflects higher powder and stable butter returns offsetting lower cheddar returns, a spokesperson for the dairy giant said.

GDT records fourth increase

Meanwhile, on Tuesday, November 5, it was revealed that the GDT price index has increased for a fourth successive time.

At the auction, the GDT’s event 247 concluded with the GDT Price Index up 3.7%.

Lasting two hours and 37 minutes, yesterday’s auction saw 199 participating bidders go head to head across 17 rounds with 139 winning bidders emerging.

A total of 38,681MT of product was sold on the day.

Key results:
  • AMF index up 2.6%, average price US$5,191/MT;
  • Butter index up 0.2%, average price US$4,117/MT;
  • BMP index up 5.4%, average price US$2,786/MT;
  • Ched index down 0.6%, average price US$3,609/MT;
  • LAC index down 1.9%, average price US$768/MT;
  • RenCas index up 5.1%, average price US$7,274/MT;
  • SMP index up 6.7%, average price US$2,924/MT;
  • SWP index not available;
  • WMP index up 3.6%.

The latest tender marks a fourth consecutive rise for the GDT index, following on from three decreases on the trot previously.

CLASSIFIED ADVERTS