The Ornua Monthly Purchase Price Index (PPI) for last month was unchanged on January’s figures.

February’s index remained at 161.9 having risen last month from 159.3 in December.

Ornua member co-op’s processing costs were estimated to be 9.5/l last month, which was unchanged on the figure reported for January.

After accounting for processing costs, Ornua’s PPI implies a return of 45.96c/l excluding VAT at 3.6% fat and 3.3% protein.

“The results reflect stable market returns for the month of February,” Ornua stated.

Ornua also said that its value payment for member co-ops for February came to €0.6m, equating to around 1.9% of gross purchases for the month.