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Dairy prices fall, volumes rise at auction-NZ's Fonterra
April 1, 2014 / 2:40 PM / 4 years ago

Dairy prices fall, volumes rise at auction-NZ's Fonterra

April 1 (Reuters) - International milk prices dropped in a fourth consecutive bi-monthly auction held by New Zealand’s Fonterra Co-operative Group, the world’s biggest dairy exporter, while volumes rose.

Fonterra’s GDT Price Index, formerly the Global Dairy Trade-Trade Weighted Index, dropped 8.9 percent, with an average selling price of $4,124 per tonne, in the auction held on Tuesday.

The decline followed a 5.2 percent fall at the previous sale, said Fonterra, which is known for brands such as Anchor, Anlene and Fresh n’ Fruity.

A total of 39,653 tonnes was sold at the latest auction, an increase of 1.7 percent from the previous one, the cooperative said on its website (

The auctions are held twice a month, with the next one scheduled for April 15.

The auction results can affect the New Zealand dollar as the dairy sector generates more than 7 percent of the nation’s gross domestic product.

The New Zealand milk co-operative, which is owned by about 10,500 farmers, controls nearly a third of the world dairy trade. (Reporting by NR Sethuraman in Bangalore; editing by Jane Baird)

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