Ornua PPI price sees slight increase for June
The Ornua PPI indicative price return for last month is 45.5c/L, inclusive of 5.1% VAT, for milk at constituents of 3.6% fat and 3.3% protein.
This figure is net of Ornua costs to market, and is an increase on the 45c/L figure for May.
The indicative return was determined from an index figure of 154.7 for June, which was up from the 153.2 figure for the previous month.
The price also takes account of Ornua's estimated member processing costs, which were 9.6c/L during the quarterly period.
The estimated processing costs are based on Ornua's estimate of the average cost of processing the Ornua basket of products, which is not representative of any individual member co-op processor.
The processing cost excludes any allowance for member co-op margins and is updated quarterly in line with variable external indices, and can rise or fall, depending on those indices, with energy costs being the main driver of changes in the estimated processing costs.
Ornua said that its indicative price return for June "reflects stronger market returns in some categories for the month of June".
According to the dairy business, the PPI relates to product settlements/payments for the month and, for reasons of seasonality, is not directly aligned with milk production and payment.
Additionally, the 'Ornua Value Payment' payable to member co-ops in the month is €10.7 million, which equated to 3.7% of gross purchases in the month.
In other Ornua news, the dairy processor has seen a number of wins at an international competition for cheese and dairy products.
The International Cheese and Dairy Awards, which took place in Staffordshire in England, featured some 3,750 entries from various countries.
According to Ornua, the competition is the world's largest cheese and dairy competition, and was judged by 'leading international industry experts'.
The Irish dairy business said it won 23 awards in total, including four 'major trophies', six gold awards, six silver awards, and seven bronze awards.
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Ornua PPI price sees slight increase for June
The Ornua Purchase Price Index (PPI) indicative price for June has seen a slight increase, reflecting stronger market returns for some products in the month. The Ornua PPI indicative price return for last month is 45.5c/L, inclusive of 5.1% VAT, for milk at constituents of 3.6% fat and 3.3% protein. This figure is net of Ornua costs to market, and is an increase on the 45c/L figure for May. The indicative return was determined from an index figure of 154.7 for June, which was up from the 153.2 figure for the previous month. The price also takes account of Ornua's estimated member processing costs, which were 9.6c/L during the quarterly period. The estimated processing costs are based on Ornua's estimate of the average cost of processing the Ornua basket of products, which is not representative of any individual member co-op processor. The processing cost excludes any allowance for member co-op margins and is updated quarterly in line with variable external indices, and can rise or fall, depending on those indices, with energy costs being the main driver of changes in the estimated processing costs. Ornua said that its indicative price return for June "reflects stronger market returns in some categories for the month of June". According to the dairy business, the PPI relates to product settlements/payments for the month and, for reasons of seasonality, is not directly aligned with milk production and payment. Additionally, the 'Ornua Value Payment' payable to member co-ops in the month is €10.7 million, which equated to 3.7% of gross purchases in the month. In other Ornua news, the dairy processor has seen a number of wins at an international competition for cheese and dairy products. The International Cheese and Dairy Awards, which took place in Staffordshire in England, featured some 3,750 entries from various countries. According to Ornua, the competition is the world's largest cheese and dairy competition, and was judged by 'leading international industry experts'. The Irish dairy business said it won 23 awards in total, including four 'major trophies', six gold awards, six silver awards, and seven bronze awards.
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Ornua products see wins at international dairy competition
Irish dairy product producer Ornua, which makes the Kerrygold butter brand, has seen a number of wins at an international competition for cheese and dairy products. The International Cheese and Dairy Awards, which took place in Staffordshire in England, featured some 3,750 entries from various countries. According to Ornua, the competition is the world's largest cheese and dairy competition, and was judged by "leading international industry experts". The Irish dairy business said it won 23 awards in total, including four "major trophies", six gold awards, six silver awards, and seven bronze awards. Ornua's Vintage Cheddar, made by Tirlán at its Ballyragget plant in Co. Kilkenny, won the DSM Trophy for the Best Single Vintage Creamery/Block Cheddar. Other awards were presented to Ornua for cheese supplied by Carbery, Dairygold and Tirlán's plant in Co. Wexford. Ornua said these wins "demonstrate the range and supreme quality of Irish cheese and expertise of Ornua's member co-ops". The business' Pilgrims Choice cheddar brand - the second-most popular cheddar brand in the UK according to Ornua - won seven awards, including three gold awards, three silver awards, and one bronze award. It also won three "major trophies" for its Extra Mature Cheddar. These awards were for Reserve Champion Overseas, Champion Overseas Cheddar, and Best Irish Cheddar. The Pilgrims Choice "Inclusions" range won a number of awards for its blended chesses, including in the Best Additive Cheese category, in which three different products from the range won the gold, silver and bronze awards. Apart from the award wins for cheese products, Ornua's flagship product, Kerrygold, won five awards. Kerrygold Unsalted Butter received a gold award, while the 'Sweet Spreadable' range won a number of awards, including two silver awards for on product in the dairy/butter spread category and the flavoured butter category. Another Kerrygold 'Sweet Spreadable' product won two bronze medals, also in the dairy/butter spread and flavoured butter category.
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Ornua Global Milk Collections Increased by 1 7 in May
Global milk collections increased by 1.7% in May, driven by growth in the US and Europe, according to a new report from Ornua. The latest Ornua Global Dairy Market Report outlined that while the global milk supply outlook has improved, flows are "unlikely to be a major burden". Milk flows across the EU grew by 1.2% in April and a further 0.3% in May due to increases in France, Poland, and Ireland. In Ireland, flows rose sharply in March and April,and by a further 6.8% in May, albeit from a low base. The annual forecast for the 27 EU member states has been revised up. However, the report states that growth expectations are modest and may be impacted by factors such as weather or animal health issues. In the UK, flows have been strong with output lifting by 6.5% in April and 5.8% in May. In the US, milk collections grew by 1.6% in May, with Ornua noting that supply is "stronger when adjusted for solids". In May, US milk collections increased for the fifth consecutive month, which is linked to yield per cow and higher cow numbers. The report also stated that "output should continue expanding". In New Zealand, milk flows were up 8.3% in May against a low base and with peak season now passed. Annual collections in the country are likely to be similar to 2024. The report outlined that milk supplies continue to contract in China, but there are some signs of stability. Ornua said that the global outlook has improved with annual output likely to expand by 1%, largely driven by growth in the US. The report outlined that "market activity increased through quarter two and sentiment has generally been positive". Ornua said that buyers remain engaged, but interest eased recently, which is "not unusual during the summer months". Most European and New Zealand prices are lower compared to last month. However, Ornua noted that most European commodities now command "a significant premium". "Against a backdrop of an uncertain global trade environment, this could dampen demand later in the year," the report said.
