Ornua PPI increases for March
Posted 2 weeks ago
Ornua’s Purchase Price Index (PPI) has risen for the month of March, once again driven by stronger butter and powder returns, the Irish dairy exporter has confirmed.
In a brief statement to Agriland yesterday evening (Wednesday, April 7), a spokesperson for Ornua said:
“The Ornua Purchase Price Index for the month of March is 112.6 and is up from 108.5 in the previous month
This converts to 33.3c/L including VAT, based on Ornua’s product purchase mix, an assumed member processing cost of 7c/L and excluding member margin. This is up 1.5c/L on the 31.8c/L announced last month.
The PPI increase is again driven by stronger butter and powder returns.
“In addition, the Ornua Value Payment payable to members in the month is €6.15 million, which equated to 6.4% of gross purchases in the month [year to date 6.5%],” the representative concluded.
This follows the news earlier this week that the Global Dairy Trade (GDT) index lifted slightly by 0.3% to make six rises out of seven auctions so far this year, following on from a drop of 3.8% last time out.
Lasting two hours and 15 minutes, the event on Tuesday (April 6) saw 169 participating bidders go head-to-head across 15 bidding rounds, with 99 winning bidders emerging.
A total of 25,104MT of product was sold on the day.