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

China's dairy import volumes have not yet recovered to historic levels. (Image: NZME)

Tue, 16 Jul 2024

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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