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International milk prices rose while volumes dropped at GDT

New Zealand 20.09.2023
Source: dairynews7x7.com
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The GDT Price Index was up 4.6%, with an average selling price of $2,957 per metric ton. The index rose 2.7% at the previous auction held on Sept. 5, with an average selling price of $2,888, according to GDT Events.
International milk prices rose while volumes dropped at GDT


A total of 37,366 tons of dairy products were sold at the latest auction, down about 1% from the previous sale, the auction platform said.

The auction results could affect the New Zealand dollar as the dairy sector generates more than 7% of the nation’s gross domestic product.


The New Zealand milk co-operative, which is owned by about 10,500 farmers, controls nearly a third of the world dairy trade.

GDT Events is owned by New Zealand’s Fonterra Co-operative Group Ltd, but operates independently from the dairy giant.

U.S.-listed CRA International Inc is the trading manager for the Global Dairy Trade auction, which is held twice a month, with the next one scheduled for Oct. 3.

Link to the source: https://dairynews7x7.com/international-milk-prices-rose-while-volumes-dropped-at-gdt/


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