Prices Lower In globalDairyTrade Event
The gDT-TWI index was down 8.3% after the latest globalDairyTrade trading event.
The trading manager, CRA International, advised that average prices across all contracts and contract periods were as follows:
-
Average price
US $ per tonne FAS
% change
Anhydrous Milk Fat
4,302
-7.6
Skim Milk Powder
2,770
-8.9
Whole Milk Powder
2,974
-7.7
Paul Grave, globalDairyTrade Manager, said the market was rebalancing amid increasing supply and an uncertain economic outlook.
For full results see www.globalDairyTrade.info.
The next globalDairyTrade trading event will be held on 1 September 2010.
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.
