March 18, 2014 / 2:25 PM / in 4 years

Dairy prices fall, volumes drop at auction

March 18 (Reuters) - International milk prices dropped in a third consecutive bi-monthly auction held by New Zealand’s Fonterra Co-operative Group, the world’s biggest dairy exporter, while volumes also fell.

Fonterra’s GDT Price Index, formerly the Global Dairy Trade-Trade Weighted Index, dropped 5.2 percent, with an average selling price of $4,563 per tonne, in the auction held on Tuesday.

A total of 39,008 tonnes was sold, down 5.1 percent drop from the previous auction, the co-operative said on its website (Reporting by NR Sethuraman in Bangalore; editing by Jane Baird)

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