Global Dairy Prices Rise 2.2% After Seven Consecutive Drops
Global dairy prices rose for the first time in six months yesterday with lower volumes of key products being offered on sale.
It is also the first positive event after seven consecutive drops.
The GDT Price Index increased by 2.2% from the previous event, which was one of the lowest drops since July.
The average selling price was $2,819 per tonne, compared to €2,727 per tonne at the last event.
Butter, 2.7% at $3,745 per tonne, Skim Milk Powder, up 0.3% selling at $1,970 per tonne, and Whole Milk Powder, 2.5% at $2,667 per tonne, all experienced increases.
Whole Milk Powder was the most heavily traded item.
Cheddar, however, was the only decrease of the bunch, dropping by 2.2% on the last event’s price, selling at $3,184 per tonne.
The total amount sold was 36,450 tonnes, which was a 15.2% drop from the previous event.
© 2018 Checkout – your source for the latest Irish retail news. Article by Aidan O’Sullivan. Click subscribe to sign up for the Checkout print edition.