Dairy prices rise, volumes fall at auction - GDT events

CRA International

20/09/2022 15:44

Sept 20 (Reuters) - International milk prices rose while
volumes fell in this month's second Global Dairy Trade auction
held by GDT Events on Tuesday.
    The GDT Price Index gained 2%, with an average selling price
of $4,072 per tonne. The index gained 4.9% at the previous sale,
according to GDT Events.
    A total of 26,106 tonnes was sold at the latest auction,
down about 3.8% from the previous one, the auction platform said
on its website.    
    The auction results can 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 Oct. 4.

 (Bangalore Commodities desk)
 ((BLRCEEditorial@thomsonreuters.com))