Sept 17 International milk prices rose while
volumes fell in the second auction in September, the latest held
by New Zealand's Fonterra Co-operative Group, the world's
biggest dairy exporter, it said on Tuesday.
Fonterra's GDT Price Index, formerly the Global Dairy
Trade-Trade Weighted Index, rose 0.3 percent, with an average
selling price of $4,880 per tonne, in the auction held on
The jump followed a 1.1 percent fall in the previous sale,
said Fonterra, which is known for brands such as Anchor, Anlene
and Fresh n' Fruity.
A total of 46,664 tonnes was sold, falling 12.7 percent from
the previous auction, the co-operative said on its website
The auctions are held twice a month, with the next one due
on Oct. 1.
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 about 10,500
farmers, controls nearly one-third of the world dairy trade.