‘Sluggish’ Chinese demand expected to weigh down dairy prices further

‘Sluggish’ Chinese demand expected to weigh down dairy prices further
China's dairy import volumes have not yet recovered to historic levels. (Image: NZME)
Riley Kennedy
Global dairy prices are expected to slip again this week as weak Chinese demand lingers.At the last auction nearly a fortnight ago, the Global Dairy Trade (GDT) Price Index fell 6.9% to an average price of US$3,782 (NZ$6,192) a metric tonne in what was described as a “nosedive”.It was the largest drop since August last year and the second consecutive auction in which dairy prices had dropped.The all-important whole milk powder, which has the biggest influence on Fonterra’s milk price and generally makes up half of th...

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