Dairy product prices rise 3.1 percent in GDT auction, biggest gain in 5 months

Tue, 19 Feb 2013

Feb. 20 (BusinessDesk) - Prices of dairy products in Fonterra's latest GlobalDairyTrade auction rose by the most in five months, adding to positive sentiment that has pushed the kiwi dollar to near a 2 ½-year high. The GDT-TWI Price Index rose 3.1 percent compared to the last sale two weeks ago, the biggest increase since the Sept. 4 sale and the fifth straight gain. The average winning price rose to US$3,756 a metric tonne. Whole milk powder, the biggest product by volume, led the advance, rising 5.8 percent to US$3,654 a tonne. Rising pric...

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