Dairy Prices Plummet Across the Board
2018-10-08 14:12 Monday
Dairy prices fell sharply after unexpected drop in the price of whole milk powder and butter at the Global Dairy Trade (GTD) Online Auction in New Delhi, on September 6th, 2018.
The GDT price index slipped 0.7% from two weeks prior, from $2,980 per ton to $3,044 per ton. However, the company sold 38,811 tons of products, up from 32,041 tons two weeks earlier.
Whole milk powder fell 2.2% to $2,821 a ton
"Whole milk powder sales increased during the event," noted Amy Castleton, a dairy analyst in the agricultural division, adding that sales of whole milk powder rose 33% compared with the August 21st auction, and are 29% higher than from the September 5th auction in 2017.
Oceania Butter is the Cheapest in the World
Butter fell 2.8% to $4,271 a ton, with Castleton observing that the price of Oceania butter is now the lowest in the world.
Lactose Prices Down as well
The price of lactose fell 0.5% to $917 a ton, according to scoop.co.nz a New Zealand-based website. The price of cream milk powder rose 0.1% to $2,474 a ton, and the price of skimmed milk powder rose 0.2% to $5,316 a ton.
Skim milk rose 2.2% to $2,005 a ton. Curds rose 3.7% to $5,326 a ton. Cheddar cheese rose 4.2% to $3,631 a ton.
Overall, the auction revealed that prices for dairy commodities are in flux, with a surge of demand in the wake of falling prices.