Dairy product prices fall 5.3 percent , third straight decline, on GDT platform

Tue, 04 Jun 2013

June 5 (BusinessDesk) - Prices of dairy products fell for the third auction in a row, continuing to ease from April’s record highs as volumes increase and the effects of drought wash out of the supply chain. The GDT-TWI Price Index fell 5.3 percent compared to the last sale two weeks ago. The average winning price fell to US$4,443 a tonne from US$4,549 a tonne. Whole milk powder, the biggest product by volume, fell 7.1 percent to US$4,643 a tonne, the lowest since the March 5 auction. Fonterra Cooperative Group raised its forecast 2014 payou...

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