Wednesday, 03 April 2013 09:04

GDT up 14%

Written by Pamela Tipa

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Global dairy prices are continuing to rise. The overnight Global Dairy Trade (GDT) trade weighted index rose 14.2%, its eight straight gain.

Whole milk powder prices index was up 7% to US$5,100/tonne. Skim milk powder prices rose a staggering 28% to US$5142/tonne.

Analysts say traders are competing for a shrinking volume of milk powder in the face of the continuing impact of drought.
Fonterra last week increased its milk payout by 30c/kgMS.

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