Dairy product prices rise amid tightening supply

Tue, 15 Nov 2016

By Margreet Dietz Nov. 16 (BusinessDesk) - Dairy product prices rose at the Global Dairy Trade auction, gaining for the seventh time in eight auctions, amid supply decreases. The GDT price index increased 4.5 percent to US$3,519, up from US$3,327 at the previous auction two weeks ago. Some 23,902 tonnes of product was sold, down from 27,735 tonnes at the previous auction. Whole milk powder added 3.2 percent to US$3,423 a tonne. Last month Fonterra said it reduced its forecast milk volume for the 2016-17 season in New Zealand. "Ti...

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