The Ornua Purchase Price Index (PPI) has increased slightly for the month of June, the company has confirmed.

The PPI index for last month is 101.7 – this is a marginal increase from the figure of 101.1 recorded for May.

The June index converts to 30.1c/L including VAT, based on Ornua’s product purchase mix and assumed costs of 6.5c/L, Ornua said.

The rise is attributable to stable returns across the Ornua product mix, a spokesperson for the Irish dairy exporter explained.

GDT soars with strong powder performance

This follows the latest Global Dairy Trade (GDT) event earlier this week, which finished with a strong boost to the index, for a fourth consecutive increase in recent auctions.

The most recent tender – event 263 – concluded on Tuesday, July 7, with the GDT Price Index up 8.3%.

Lasting two hours and 31 minutes, this week’s event saw 174 participating bidders go head to head across 17 bidding rounds, with 109 winning bidders emerging. A total of 25,688MT of product was sold on the day.

In a strong showing almost across the board, the big winner on the day was whole milk powder (WMP), which skyrocketed by 14%.

This was followed by more moderate, though still positive, results for butter milk powder (BMP) and skim milk powder (SMP), which recorded rises of 3.8% and 3.5% respectively.

Cheddar (Ched) and butter also performed well, with increases of 3.3% and 3% in index respectively.

Meanwhile, lactose (LAC) rose by 1.9%. Anhydrous milk fat (AMF) was the only product to record a decrease in index on the day, dropping by 0.2%