Dairy prices rose, volumes fell at auction - GDT events

CRA International

18/04/2023 15:57

April 18 (Reuters) - International milk prices rose
while volumes fell at this month's Global Dairy Trade (GDT)
auction on Tuesday.
    The GDT Price Index was up 3.2%, with an average selling
price of $3,362 per tonne. The index was down 4.7% at the
previous auction held on April 4, with an average selling price
of $3,227, according to GDT Events.
    A total of 22,713 tonnes of dairy products were sold at the
latest auction, down about 4.7% 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's 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 May 2.

 (Reporting by Ashitha Shivaprasad and Deep Vakil in Bengaluru
Editing by Mark Potter)
 ((Ashitha.Shivaprasad@thomsonreuters.com;))