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Prices for dairy products at GDT trading began to decline

World 09.11.2023
Source: The DairyNews
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Prices for dairy products at the Global Dairy Trade (GDT) auctions decreased for the first time since the beginning of autumn 2023. At the GDT auction on November 7, 2023, the price index for dairy products decreased by 0.7%. Prices for butter and dairy products have decreased.
Prices for dairy products at GDT trading began to decline

The value of the price index for dairy products at the 343rd GDT trading on November 7, 2023 was 987 points, down 7 points. below previous trades. The weighted average price for dairy products at the GDT auction was $3.255/kg. Taking into account the strengthening of the ruble compared to previous trading, the weighted average price for dairy products in Russian currency decreased by 3% to 302.8 rubles/kg, which is 39% higher than the beginning of November 2022.

A total of 34,514 tons of dairy products were sold at the auction, 1.5 thousand tons less than at the previous auction. Number of bidders – 162.

Prices for anhydrous milk fat (+3.1%), SOM (+2.3%), cheddar (+4.5%), buttermilk (+3.5%) and lactose (+19.2%) continued to rise. . Prices for butter (-1.6%) and central milk (-2.7%) decreased.



The next Global Dairy Trade auction will take place on November 21, 2023.



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