'Pretty extraordinary' - Fonterra on GDT results
Fonterra’s reliable supply chain and strong demand from China and South East Asia are helping drive dairy prices up, says co-op chief executive Miles Hurrell.
Global dairy prices have continued their golden run, with the Global Dairy Trade auction recording its seventh consecutive rise in the price index.
Last night’s GDT event saw the price index rise 3%. Since November last year, the price index has gained over 20%.
GDT’s flagship products- whole milk powder prices continue to rise with last night’s auction recording a 4.3% lift to US$3615/metric tonne.
WMP prices are at levels not seen since December 2016, when it reached US$3593/MT.
Key Results
AMF index up 1.1%, average price US$5,527/MT
Butter index up 2.0%, average price US$5,129/MT
BMP not offered
Ched index up 2.4%, average price US$4,268/MT
LAC index up 0.4%, average price US$1,232/MT
SMP index up 0.3%, average price US$3,207/MT
SWP not offered
WMP index up 4.3%, average price US$3,615/MT
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