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The Ornua purchasing price index (PPI) is up once again for October. The result, which was published Wednesday 4 November, put the index at 104.1 up from 102.8.
When adjusted for the Ornua Value Payment and accounting for 7c/l assumed processing costs, it puts the October equivalent milk price at 31c/l excl VAT (32.7 incl VAT), up from 30.4c/l (32 c/l incl VAT) in September.
Using the index we calculate the October equivalent price at 28.6 c/l and then add on the estimate of the Ornua value payment of 2.39 c/l to get the equivalent of 31 c/l ex Vat (32.7 incl VAT). Farmers can compare this Ornua equivalent price directly with their own co-op milk prices.
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