Dairy product prices drop 2 percent in GDT auction, first decline in four sales

Tue, 04 Dec 2012

Dec. 5 (BusinessDesk) – Prices of dairy products fell in Fonterra’s latest GlobalDairyTrade auction, the first decline in four sales, led by whole milk powder and cheddar. The GDT-TWI Price Index dropped 2 percent compared to the last sale two weeks ago. The average winning price fell to US$3,290 a metric tonne from US$3,348 a tonne in the last auction. Whole milk powder, the biggest product by volume, fell 3.5 percent to US$3,170 a tonne and cheddar dropped 2.4 percent to US$3,372 a tonne. The sale is the first since the debut of units in...

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