Dairy product prices jump as worldwide surplus falls

Tue, 16 Aug 2016

By Margreet Dietz Aug. 17 (BusinessDesk) - Dairy product prices soared, rallying more than anticipated, at the Global Dairy Trade auction amid signs that the worldwide supply glut is easing, bolstering optimism about the outlook. The GDT price index gained 12.7 percent to US$2,731, up from US$2,436 at the previous auction two weeks ago. Some 37,766 tonnes of product was sold, up from 34,928 tonnes at the previous auction two weeks ago. “It was a stunning result and it couldn't have come at a better time for our farmers,” AgriHQ dairy a...

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