The Ornua Purchase Price Index (PPI) for June is 179.4. This equates to 56.0c/l, VAT inclusive, based on Ornua’s product purchase mix and assumed member processing costs of 8.3cpl and excluding member margin.

The June result is up from the May figure of 178.5.

The energy cost element of the processing cost is variable and changes each month.

Ornua says the increase is a result of continued stronger returns across the product range.

In addition, the Ornua Value Payment payable to members in the month is €10.4m. This equated to 3.6% of gross purchases in the month (3.7% year to date).

Combined the Ornua PPI is close to 60c/l VAT inclusive.