Ornua PPI rises slightly for April

Ornua Purchase Price Index (PPI) has increased slightly for the month of April, the dairy exporter has confirmed.

Announced earlier today, Wednesday, May 8, Ornua revealed that its index for April 2019 is 105.9, adjusted from 104.1 in March.

This converts to 31.6c/L, including VAT, based on Ornua’s product purchase mix and assumed costs of 6.5c/L, according to the firm.

The adjustment for April’s PPI reflects higher butter prices and generally stable to improved returns for the powder variants.

11 rises on the trot from GDT

Meanwhile, the Global Dairy Trade (GDT) index managed to make it 11 consecutive rises on the trot following a slight increase in its latest auction yesterday, Tuesday, May 7.

Lasting two hours and five minutes, today’s auction – event 235 – concluded with the GDT Price Index up 0.4%.

The latest tender saw 179 participating bidders go toe-to-toe across 14 rounds with 105 landing successful bids.

A total of 15,375MT of product was sold at yesterday’s event.

Key results:
  • AMF index up 1.4%, average price US$6,217/MT;
  • Butter index unchanged, average price US$5,486/MT;
  • BMP index down 10.3%, average price US$3,242/MT;
  • Ched index down 2.4%, average price US$4,217/MT;
  • LAC index down 2.7%, average price US$887/MT;
  • RenCas index up 3.1%, average price US$6,610/MT;
  • SMP index up 2.8%, average price US$2,521/MT;
  • SWP index not available, average price not available;
  • WMP index down 0.5%, average price US$3,249/MT.

The most dramatic mover at the auction was butter milk powder (BMP) which fell 10.3%; lactose also fell some 2.7% while cheddar too was in the red, dropping by 2.4%.