Skim milk price spike sparks GDT oversight committee investigation

Thu, 08 Mar 2018

By Jonathan Underhill March 9 (BusinessDesk) - Global Dairy Trade, the dairy products trading platform owned by Fonterra Cooperative Group, is looking into a price spike in ultra-high temperature skim milk powder at this week's auction, which on the surface looks to reflect strong demand from some buyers for immediate delivery. The SMP Price Index Contract 1, which is skim milk powder for delivery in April, jumped 44.8 percent at the GDT auction compared to the previous sale. The only product available in that contract was Fonterra's UHT...

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