Ornua PPI rises for August
Ornua’s purchase price index (PPI) rose for August to 111.
This is up from 110.1 in July.
A PPI of 111 is the equivalent to a farmgate milk price of 31.78c/litre (excluding VAT).
Ornua said that the August PPI reflects “higher butter and cheese returns and flat to weaker returns for powders and proteins”.
Two of the country’s biggest dairy processors announced milk prices for August this week.
Glanbia increased its milk price for August manufacturing milk supplies by 1c/l. It will pay its milk suppliers 33.11c/l excluding VAT for August manufacturing milk supplies.
In addition, Lakeland increased its milk price for August to 33.47c/l.
Further co-ops will announce August milk prices in the coming days.