Dairy prices edge up, volumes ease at auction - GDT events

CRA International

17/01/2023 14:43

Jan 17 (Reuters) - International milk prices edged up
but volumes fell in this month's second Global Dairy Trade (GDT)
auction on Tuesday.
    The GDT Price Index was down 0.1%, with an average selling
price of $3,393 per tonne. The index lost 2.8% at the previous
auction held on Jan. 3, the average selling prices being $3,365
per tonne, according to GDT Events.
    A total of 31,872 tonnes of dairy products were sold at the
latest auction, down about 4.8% from the previous sale, the
auction platform said on its website.
    The auction results could affect the New Zealand dollar
 NZD=  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  FCG.NZ , but operates independently from the dairy
giant.
    U.S.-listed CRA International Inc  CRAI.O  is the trading
manager for the Global Dairy Trade auction, held twice a month,
with the next one scheduled for Feb. 7, 2023.
 (Reporting by Seher Dareen in Bengaluru, Editing by William
Maclean)
 ((Seher.Dareen@thomsonreuters.com; If within U.S. +1 646 223
8780;))