Dairy product prices tumble 8.9 percent, biggest drop since August 2012

Tue, 01 Apr 2014

April 2 (BusinessDesk) - Dairy product prices had the biggest drop in almost 20 months at Fonterra Cooperative Group's latest GlobalDairyTrade auction as whole milk powder fell to its lowest level in more than a year. The GDT price index dropped 8.9 percent to US$4,124 a tonne from US$4,563 per tonne two weeks ago, the fourth straight decline and the lowest since August 2012. Some 39,653 tonnes of product was sold, up from 39,008 tonnes two weeks ago. Soaring prices of global dairy products helped Fonterra lift sales in its first half by 21...

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