Ornua PPI lifts slightly for November

Ornua’s Purchase Price Index (PPI) has risen marginally for the month of November, the Irish dairy exporter has confirmed.

In a brief statement to AgriLand this morning (Wednesday, December 2), a spokesperson for Ornua said:

The index for the month of November is 104.3 and is up from 104.1 in the previous month.

This converts to 30.3c/L including VAT, based on Ornua’s product purchase mix and assumed member processing costs of 7c/L.

This slight lift is an increase of 0.1c/L on the 30.2c/L equivalent figure for October.

Continuing, a spokesperson said:

“The marginal increase is as a result of product mix, with returns generally stable across the product range.

In addition, the Ornua Value Payment payable to members in the month is €5.6 million, which equated to 7.6% of gross purchases in the month [year to date 4.9%].

Meanwhile, the Global Dairy Trade (GDT) index has recorded back-to-back increases in its latest auction.

GDT lifts in latest tender

The most recent auction – event 273 – concluded yesterday (Tuesday, December 1) with the GDT Price Index up 4.3%.

Lasting two hours and 21 minutes, yesterday’s event saw 178 bidders participate across 16 bidding rounds, with 112 winning bidders recorded.

A total of 32,062MT of product was sold on the day.

All available product indices recorded increases in the auction. The most dramatic movement in index on the day was that of lactose (LAC), which saw a 13.5% rise. The whole milk powder (WMP) index was a distant second in this, recording a 5% boost on the day.