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Global Dairy Trade Nearly 3% Higher


Event 251 of the Global Dairy Trade took place on Tuesday with all offered products closing higher for the session.

Global dairy prices jumped at the first auction of the year on Wednesday as low supply supported a surge across all products.

The GDT Price Index climbed 2.8 percent, with an average selling price of $3,371 per tonne, paring the 5.1% drop at the previous sale last month.

Prices gains were broad-based across products, jumping 1.7% for whole milk powder, the top traded item, and 5.4% for skim milk powder.

“This was underpinned by price increases for all dairy commodities, with smaller overall supply volumes available compared with the previous event, which is typical for this time of year but is likely to have contributed to the uptick in demand,” said Robert Gibson, analyst at NZX.

A total of 33,050 tonnes was sold at the latest auction, down 7.5 percent from the previous one, the auction platform said on its website.

Analysts said that prices would likely be supported in the early months of 2020 by constrained supply in New Zealand, the world’s largest dairy exporter.


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