The Ornua Purchasing Price Index (PPI) lifted again for February. The results which were published on Wednesday 3 March put the index at 108.5 – up from 107.3 last month. This rise translates to an equivalent price lift of 0.4c/litre.
When adjusted for the Ornua Value Payment, and accounting for 7c/litre assumed processing costs, the index puts the February equivalent milk price at 30.11c/litre excluding VAT (31.8c/litre including VAT). Taking the Ferbuary equivalent price at 30.1c/litre and then adding on the estimate of the Ornua Value Payment of 2.77c/litre we get the final comparable equivalent milk price of 32.9c/litre excluding VAT (34.7c/litre including VAT).
Farmers can compare this price directly with their own co-op milk price. The average of the January monthly milk league was 30.9c/litre excluding VAT at base solids or €4.37/kg MS at 3.55% protein and 4.2% fat.
The GDT index also finished 15% up this week – the eight consecutive rise. The price of whole milk powder lifted 21% to $4,363/t (€3,617).