Ornua PPI sees summer boost for May
Ornua has revealed a boost to its Purchase Price Index (PPI) for May, with a 5-point rise offered compared to last month.
The Ornua PPI for May is 105.4, which – according to the Irish dairy exporter – works out at 31.4c/L (VAT inclusive) based on Ornua’s product purchase mix and assumed costs of 6.5c/L.
This is up from 100.4 in April – which reflects stronger returns in the month for butter and powders.
Early may milk prices
Meanwhile, both Glanbia and Lakeland Dairies have announced their milk prices for the month of May.
Glanbia has held its base price, but reduced its support payment compared to the previous month.
This is a reduction of 1c/L on the April price of 31c/L.
Glanbia Ireland (GI) will maintain its base milk price for May at 29c/L including VAT, for manufacturing milk at 3.6% fat and 3.3% protein, along with a support payment to members of 1c/L including VAT; this is down from 2c/L in the previous month.
Lakeland Dairies has announced that it has maintained its milk price, holding the base milk price at 31.78c/L including VAT for May milk supplies.
The bad weather support payment of 1.5c/L from the April price has been withdrawn, however.
While global market conditions remain difficult, there has been some improvement in skim markets from a record low base and butter returns continue to carry milk prices, the processor explained.