The Ornua Purchase Price Index (PPI) for July is 110.1 percentage points, equivalent to a farmgate milk price of 31.35c/l (excluding VAT).
It is a marginal increase from the 110.0 points the PPI held in June.
This price is based on Ornua’s product purchase mix and assumed costs of 6.5ppl. Ornua said that the PPI for July reflects higher butter prices, off-set by lower SMP and whey returns.