The Ornua Purchase Price Index (PPI) increased again for May milk as global markets continue to improve at pace, it has been confirmed.
The latest results place the index at 116.8 – up from 115.1 last month – putting May milk supplies at 34.8c/L , Ornua Co-operative Limited has said.
In a statement a spokesperson said: “The Ornua Purchase Price Index for the month of May is 116.8 (34.8cpl, VAT inclusive based on Ornua’s product purchase mix and assumed member processing costs of 7cpl and excluding member margin) and is up from 115.1 in the previous month.
"The increase is driven by generally stronger returns across the product range.”
In addition, it was added that, the Ornua Value Payment payable to members in the month is €7.63m, which equated to 5.2pc of gross purchases in the month (year to date 5.8pc).
