Dairy product prices edge up to new record as rally abates in GDT auction

Tue, 16 Apr 2013

April 17 (BusinessDesk) – Prices of dairy products recorded their smallest gain this year, edging up to a new record while suggesting the New Zealand drought fuelled surge is abating. The GDT-TWI Price Index rose 0.6 percent compared to the last sale two weeks ago, the ninth straight gain. The average winning price rose to US$4,968 a tonne, the highest on record on the GDT platform that began in July 2008, from US$4,966 a tonne two weeks ago. Whole milk powder, the biggest product by volume, rose 2.4 percent to US$5,245 a tonne. The total vol...

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