The average price at Global Dairy Trade hit $ 5,025 a tonne, up 1.7% from the previous auction two weeks ago and up 46% from a year ago. This price reflects the increase from higher value products, first of all the milk protein concentrate (MPC), which rose by 7.2% to $ 9,657 / Euro 7,119 a tonne. This comes despite the increased milk output in New Zealand. Similar situation in Europe too. UK total December output, for example, was the highest in 18 years, and Ireland is beyond its quota. At the same time, demand from the market remains strong, largely from China and Russia. The GDT results show that premium products such as MPC which has risen in price by 61% over the past year, or butter, appear to be doing better than commodities.
More information on the web page dedicated to the Fonterra Auction at CLAL.it .