Ornua PPI steady for February

Ornua has revealed its Purchase Price Index (PPI) for February, holding largely steady on its January figure.

According to a spokesperson for the dairy exporter, the PPI index February is 107.64, a marginal rise of 0.04 on January’s 107.6 index.

This converts to 32.3c/L, including VAT, based on Ornua’s product purchase mix and assumed costs of 6.5p/L.

January’s figure in turn was a slight rise on the 107.5 recorded in December.

Seventh consecutive GDT rise

Meanwhile, the latest Global Dairy Trade (GDT) auction – event 231 – has ended on a high, recording a seventh consecutive rise in price index.

Yesterday’s event (Tuesday, March 5) concluded with the GDT price index up 3.3% overall.

Lasting two hours and six minutes, 176 participating bidders battled across 14 rounds with 109 proving successful.

A total of 23,930MT of product was sold on the day.

Key Results:
  • AMF index up 3.9%, average price US$5,837/MT;
  • Butter index up 3.7%, average price US$4,657/MT;
  • BMP index up 11.0%, average price US$3,480/MT;
  • Ched index up 6.0%, average price US$3,888/MT;
  • LAC index up 0.6%, average price US$1,009/MT;
  • RenCas index down 0.1%, average price US$5,649/MT;
  • SMP index down 4.3%, average price US$2,462/MT;
  • SWP index not available, average price not available;
  • WMP index up 6.0%, average price US$3,186/MT.

Butter saw the most dramatic move on the day, recording an 11% rise in index. Meanwhile, both cheddar and whole milk powder (WMP) documenting a healthy 6% boost.

On the flip side, skimmed milk powder (SMP) dropped 4.3% in index, while rennet casein (RenCas) fell marginally by 0.1%.