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Ornua’s purchase price index (PPI) has increased for October.
The monthly PPI grew to 151.7 for October, up from 151.4 the previous month.
However, this is equivalent to a milk price of 42.84c/l, excluding VAT, for milk of 3.6% fat and 3.3% protein which is level with their price in September.
The marginal increase in PPI reflects “the stable market returns” throughout the month of October, according to Ornua.
Ornua’s estimate of member co-ops processing costs was 8.68c/l in the month, excluding VAT.
In addition, the Ornua value payment payable to member co-ops in the month is €4.4m, which equated to 3.6% of gross purchases in the month.
Global Dairy Trade
International dairy prices are continuing to climb at the most recent Global Dairy Trade auction, with prices up by 4.8% last Tuesday.
In that auction, there were sizeable increases for whole milk powder and cheddar, with six milk products rising in price.
Irish dairy co-ops will begin to set milk price in the coming days for October supplies.
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