The price for whole milk powder (WMP) surged 21 percent from March at Fonterra's monthly internet-based auction overnight.The average price for WMP on the globalDairyTrade sales platform rose to $US3969 per tonne.Paul Grave, globalDairyTrade manager, said
The price for whole milk powder (WMP) surged 21 percent from March at Fonterra's monthly internet-based auction overnight.
The average price for WMP on the globalDairyTrade sales platform rose to $US3969 per tonne.
Paul Grave, globalDairyTrade manager, said the result reflected strengthening demand in the market and reduced supply as the Australasian production season drew to a close.
Demand was growing as economies recovered, while at the same time milk production from this country was decreasing as the upper North Island became very dry, Mr Grave told Radio New Zealand today.
Production in Australia had fallen recently, and the European production season probably had not started as strongly as some people had expected.
For anhydrous milk fat, the average price rose 21.9 percent to $US4827 per tonne.
The average price for skim milk powder rose 25.5 percent to $US3672 per tonne.
