Fonterra unveils divestment plan
Fonterra is exploring full or partial divestment options for its global Consumer business, as well as its integrated businesses Fonterra Oceania and Fonterra Sri Lanka.
The GDT price index rose 10.9% at last night’s auction, to US$2,226/MT.
The biggest gains were seen for Butter Milk Powder, which rose a massive 30% to an average price of US$1,829/MT.
Whole Milk Powder also gained ground, climbing 12.1% to US$2,078/MT.
Anhydrous Milk Fat and Skim Milk Powder were both up 11.7%, with average prices of US$3,029/MT and US$1,698/MT respectively.
Most other products also saw an increase, with Butter rising 8.1% to US$2,746/MT, followed by Rennet Casein up 6.3% with an average price of US$5,779/MT and Cheddar was up 4.7% to US$2,913/MT.
Lactose was the only product to lose ground, falling 4.0%, to an average price of US$483/MT.
The auction saw a total of 35,865 MT sold.
