GDT price index average down by 24% in 2023
Source: The DairyNews
Notably, the index reached a five-year low of 850 in August, according to the annual report published by the GDT company on February 22.
In 2023, GDT platforms facilitated the trading of $2.4 billion worth of dairy products. The primary milk powders, namely whole milk powder (WMP) and skim milk powder (SMP), constituted 80% of the total quantity traded. GDT trading events achieved an average clearance rate of 91% last year.
Seven sellers participated in GDT events, representing three supply regions: Europe, Oceania, and the US. The sellers included Arla, Arla Food Ingredients, DairyAmerica, Darigold, NZMP, Solarec, and Valley Milk. Over the course of 2023, GDT events enabled the trade of 708,997 metric tons of products.
A total of 432 bidders from 70 countries engaged in trading events, resulting in the exchange of 515,018 lots. The 12-month average prices for SMP and WMP experienced a 29% and 21% decline, respectively, compared to the previous year. SMP reached a four-year low in September, while WMP hit an eight-year low in August.
Anhydrous milk fat (AMF) and butter reported a 20% and 15% decrease in their 12-month average prices. Butter milk powder (BMP) saw a significant drop of 39%, and cheddar experienced a 20% decline. Lactose recorded a 45% decrease in its 12-month average price compared to 2022. Notably, mozzarella was introduced to the list of products available for sale in December, expanding the range to eight dairy commodities.
Seven sellers participated in GDT events, representing three supply regions: Europe, Oceania, and the US. The sellers included Arla, Arla Food Ingredients, DairyAmerica, Darigold, NZMP, Solarec, and Valley Milk. Over the course of 2023, GDT events enabled the trade of 708,997 metric tons of products.
A total of 432 bidders from 70 countries engaged in trading events, resulting in the exchange of 515,018 lots. The 12-month average prices for SMP and WMP experienced a 29% and 21% decline, respectively, compared to the previous year. SMP reached a four-year low in September, while WMP hit an eight-year low in August.
Anhydrous milk fat (AMF) and butter reported a 20% and 15% decrease in their 12-month average prices. Butter milk powder (BMP) saw a significant drop of 39%, and cheddar experienced a 20% decline. Lactose recorded a 45% decrease in its 12-month average price compared to 2022. Notably, mozzarella was introduced to the list of products available for sale in December, expanding the range to eight dairy commodities.
