Ornua’s purchase price index (PPI) rose by 1.7% in April, recovering part of the losses observed in March to return a farmgate price of 29.99c/l excluding VAT.

"The adjustment for April reflects higher butter prices and generally stable to improved returns for the powder variants," a spokesperson said. The PPI index had fallen by 3% in March, with many processors holding or cutting milk prices.

On Tuesday, the New Zealand-based Global Dairy Trade saw prices rise at its 11th auction in a row.

Co-ops are now preparing to set prices for the high volumes produced in April.

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