Slight lift in Ornua PPI for September

The Ornua Purchase Price Index (PPI) for the month of September has risen slightly, according to the dairy exporter cooperative.

Released today, Wednesday, October 9, the PPI index for September 2019 is 103.8, according to Ornua.

This is adjusted up marginally from the 103.5 recorded in August 2019.

The September index converts to 30.9c/L including VAT, based on Ornua’s product purchase mix and assumed costs of 6.5c/L, the cooperative added.

The adjustment for September reflects stable butter and cheese prices with improved powder returns, a spokesperson for the exporter said.

Marginal increase in GDT

An increase was also recorded on an international level, in the most recent Global Dairy Trade (GDT) event, held last Tuesday, October 1.

The event concluded with the GDT Price Index up 0.2%, according to the trading platform.

Lasting two hours and 25 minutes, last week’s tender saw 184 bidders go head-to-head across 16 rounds, with 131 winning bidders emerging.

A total of 23,716MT of product was sold on the day.

Key results:
  • AMF index unchanged, average price US$4,997/MT;
  • Butter index down 0.2%, average price US$4,125/MT;
  • BMP index up 6.7%, average price US$2,670/MT;
  • Ched index down 3.4%, average price US$3,717/MT;
  • LAC index up 1.8%, average price US$784/MT;
  • RenCas index up 0.7%, average price US$6,683/MT;
  • SMP index up 2.7%, average price US$2,674/MT;
  • SWP index not available, average price not available;
  • WMP index down 0.2%, average price US$3,141/MT.

The latest event means back-to-back increases for the overall index, following a 2% increase the previous time out; this comes in the wake of three consecutive drops prior to that.