PRICES LIFT SHARPLY IN GLOBALDAIRYTRADE EVENT
globalDairyTrade, Fonterra’s internet-based sales platform, concluded its April trading event this morning (NZT) with the average price for Whole Milk Powder up 21%.
The trading manager, CRA International, advised Fonterra that the average price achieved across all contracts and contract periods for Whole Milk Powder (WMP) was US$3,969 per tonne FAS. This was US$688 per tonne higher than the March event. Prices ranged from US$3,755 per tonne FAS to US$4,230 per tonne FAS.
For Anhydrous Milk Fat (AMF) the average price achieved across all contracts and contract periods was US$4,827 per tonne FAS. This was US$868 per tonne, or 21.9%, higher than the March event.
For Skim Milk Powder (SMP) the average price achieved across all contracts and contract periods was US$3672 per tonne. This was US$745 per tonne, or 25.5%, higher than the March event.
Paul Grave, globalDairyTrade Manager, said demand across all products was very strong. Prices reflected tightening supply as the Australasian production season draws to a close.
Overall pricing increased 23.2% across WMP, SMP, and AMF.
The next globalDairyTrade trading event will be held on 4 May 2010. See www.globalDairyTrade.info for more details.
About Fonterra
Fonterra is a global leader in dairy nutrition – the preferred supplier of dairy ingredients to many of the world’s leading food companies. Fonterra is also a market leader with our own consumer dairy brands in Australia/New Zealand, Asia/Africa, Middle East and Latin America.
The farmer-owned New Zealand co-operative is the largest processor of milk in the world, producing more than two million tonnes of dairy ingredients, value added dairy ingredients, specialty ingredients and consumer products every year. Drawing on generations of dairy expertise, Fonterra is one of the largest investors in dairy based research and innovation in the world. Our 16,000 staff work across the dairy spectrum from advising farmers on sustainable farming and milk production, to ensuring we live up to exacting quality standards and delivering every day on our customer promise in more than 100 markets around the world.
