May 6 - International milk prices fell while
volumes increased in this month's first auction held by New
Zealand's Fonterra Co-operative Group, the world's biggest dairy
Fonterra's GDT Price Index dipped 1.1 percent, with an
average selling price of $3,950 per tonne, inthe auction held on
The index fell 2.6 pct at the previous sale, said Fonterra,
which is known for brands such as Anchor, Anlene and Fresh n'
A total of 38,174 tonnes was sold at the latest auction, an
increase of 4.4 percent from the previous one, the cooperative
said on its website (www.globaldairytrade.info).
The auctions are held twice a month, with the next one
scheduled for May 20.
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
(Bangalore Commodities desk)