Dairy product prices increase amid outlook for lower supply

Tue, 02 Jan 2018

By Margreet Dietz Jan. 3 (BusinessDesk) - Dairy product prices rose at the Global Dairy Trade auction, as whole milk powder increased on the outlook for reduced supply from Fonterra, the world’s top dairy exporter. The GDT price index rose 2.2 percent from the previous auction two weeks ago to US$3,124. Some 25,400 tonnes of product was sold, down from 29,592 tonnes two weeks ago. Whole milk powder rallied 4.2 percent to US$2,886 a tonne. “Last week Fonterra announced that it now expects its milk intakes for the 2017-18 season to...

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