Ornua's Purchase Price Index (PPI) has fallen by 7.5 points to 121.9 for January.

Ornua’s estimate of member co-ops processing costs was 9c/l in January.

Its member co-op returns from the market is estimated at 32.73c/l excluding VAT for milk supplied at base constituents.

The results reflect weak market returns for the month of January, according to Ornua.

The value payment payable to member co-ops in the month is €0.4m, which equated to 6.3% of gross purchases in the month.

The PPI relates to product settlements/payments for the month and for reasons of seasonality is not directly aligned with milk production and payment.