The interim CEO of Ornua, Donal Buggy, has said that the stability in global dairy commodity markets which he saw last month is becoming more robust.

The Ornua PPI “should hold up from here to the end of year” he said, adding that “it is an important sentiment heading into a new year”.

Buggy, speaking at the official opening of Ornua’s new butter facility at Kerrygold Park in Mitchelstown, said that “we should see a solid start to next year after what has been a very volatile 2023”.

Milk price

Buggy was unwilling to be drawn on where prices might land for the next milking season.

However, he did say that a reduction in volatility would be very welcome.

“If we can take the volatility out of the market, we will all be in a better place.”

On internal developments in Ornua, he said that there have been no more high profile resignations, and that after a brief wobble, sentiment is very strong within the co-operative.