Dairy product prices rise marginally at latest GDT auction in New Zealand
Dairy product prices saw a small rise in the latest Global Dairy Trade auction in New Zealand which is run by the world’s largest dairy exporter, Fonterra.
For the sixth successive Global Dairy Trade (GDT) auction, dairy product price have seen an increase. The auction which took place on Tuesday afternoon, saw prices rise of 1.1%. This latest increase comes off the back of a 10.1% price increase two weeks ago and a 9.4% increase a month ago.
Cheddar had the biggest increase up 10.8% to $3,377/tonne. Butter prices rose by 6.8% to $2,681/tonne while skim milk powder rose by 5.9% to stand at $2,935/tonne.
However, the most important product for New Zealand, whole milk powder (WMP) fell by 1% after seeing a 13.7% increase in prices two weeks ago. The price for WMP now stands at $3,241/tonne.
ADVERTISEMENT
The GDT index now stands at 965 which is broadly on par with the GDT index from 15 July 2014.
There were a total of 160 participants at the auction with 22,094 metric tonnes of product was traded.
Register for free to read this story and our free stories.
This content is available to digital subscribers and loyalty code users only. Sign in to your account, use the code or subscribe to get unlimited access.
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
CODE ACCEPTED
You have full access to the site until next Wednesday at 9pm.
CODE NOT VALID
Please try again or contact support.
For the sixth successive Global Dairy Trade (GDT) auction, dairy product price have seen an increase. The auction which took place on Tuesday afternoon, saw prices rise of 1.1%. This latest increase comes off the back of a 10.1% price increase two weeks ago and a 9.4% increase a month ago.
Cheddar had the biggest increase up 10.8% to $3,377/tonne. Butter prices rose by 6.8% to $2,681/tonne while skim milk powder rose by 5.9% to stand at $2,935/tonne.
However, the most important product for New Zealand, whole milk powder (WMP) fell by 1% after seeing a 13.7% increase in prices two weeks ago. The price for WMP now stands at $3,241/tonne.
The GDT index now stands at 965 which is broadly on par with the GDT index from 15 July 2014.
There were a total of 160 participants at the auction with 22,094 metric tonnes of product was traded.
If you would like to speak to a member of our team, please call us on 01-4199525.
Link sent to your email address
We have sent an email to your address. Please click on the link in this email to reset your password. If you can't find it in your inbox, please check your spam folder. If you can't find the email, please call us on 01-4199525.
ENTER YOUR LOYALTY CODE:
The reader loyalty code gives you full access to the site from when you enter it until the following Wednesday at 9pm. Find your unique code on the back page of Irish Country Living every week.
SHARING OPTIONS