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The Ornua purchase price index (PPI) for June increased to 101.7 percentage points, equivalent to a milk price of 28.55c/l excluding VAT.
The price is based on Ornua’s product purchase mix and assumed costs of 6.5c/l.
This is a marginal increase on the May PPI is attributable to stable returns across the Ornua product mix.
June milk price
Milk suppliers are expecting a significant upward lift in prices when co-op boards meet to set June milk price next week.
IFA dairy chair Tom Phelan said co-ops should now have the confidence to increase June milk prices by at least 1c/l.
Patience
The ICMSA said last week that farmers’ patience on milk prices had ended.
Dutch milk processor FrieslandCampina has increased its July base milk price by 0.5c/l to 33c/l at 3.57% protein and 4.42% fat based on rising prices in neighbouring co-ops.
In May, French processors Lactalis and Danone paid almost 5c/l more than Irish prices.
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