Over 30,000t of SMP sold from intervention

Some 30,067t of skimmed milk powder (SMP) has been sold from intervention stocks in the most recent auction, at a price of €1,251/t.

SMP

This is an increase in tonnage and price from the previous tender two weeks ago, according to industry stakeholders.

This latest tender has meant that the total amount of intervention SMP sold to date has now reached approximately 200,000t.

For this tender for the buying-in of SMP no maximum buying-in price was fixed and no stock was bought in.

The next tender is expected to take place in two weeks’ time on November 20.

Ornua PPI drops

Ornua’s Purchase Price Index (PPI) has dropped in the most recent index, according to a statement from the Irish agri-food cooperative.

The dairy exporter’s price index for October is 106.5 – adjusted from 110.4 for September.

This translates to 31.9c/L, VAT inclusive, based on Ornua’s product purchase mix and assumed costs of 6.5p/L.

The October 2018 Index reflects weaker returns, specifically for fat, according to an Ornua spokesperson. This is the lowest level the PPI has been at since its May price index.

The September PPI came in as the third highest recorded in 2018, behind only January and August in first and second place respectively.