June 18 International milk prices rose for the
first time in two months, while volumes fell in the latest
auction held by New Zealand's Fonterra Co-operative Group
, the world's biggest dairy exporter.
Fonterra's Global Dairy Trade-Trade Weighted Index, which
covers a range of 30 products and contract periods, rose 1.1
percent, with an average selling price of $4,598 per tonne, in
the auction held on Tuesday.
The rise followed a 5.3 percent drop in the previous sale,
said Fonterra, which is known for brands such as Anchor, Anlene
and Fresh n' Fruity.
A total of 23,674 tonnes was sold, falling 2.4 percent on
the previous auction, the co-operative said on its website
The auctions are held twice a month with the next one due on
The auction results can affect the New Zealand dollar
as the dairy sector is a major export earner for the country and
generates more than 7 percent of gross domestic product.
The New Zealand milk co-operative, owned by around 10,500
farmers, controls nearly one-quarter of the world dairy trade.
(Reporting by Ratul Ray Chaudhuri in Bangalore; Editing by