Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Dairy prices rise 2.4% in 1st GDT sale since DCD scare

Dairy product prices rise 2.4% in first GDT auction since DCD scare

Feb. 6 (BusinessDesk) - Prices of dairy products rose in Fonterra's latest GlobalDairyTrade auction, the first since news emerged last month that small traces of a nitrate inhibitor had been found in some of the company’s milk powder.

The GDT-TWI Price Index rose 2.4 percent compared to the last sale two weeks ago, the fourth straight gain. The average winning price rose to US$3,598 a metric tonne. Whole milk powder, the biggest product by volume, rose 5.4 percent to US$3,468 a tonne.

Fonterra last week posted a statement on the GDT website assuring customers that none of the New Zealand dairy products on offer at this auction had been manufactured during periods when DCD was detected. Ballance Agri-Nutrients and Ravensdown withdrew fertilisers containing DCD voluntarily after the substance was identified.

The total volume of dairy products sold at the latest auction was 38,232 tonnes, down from 40,418 tonnes a fortnight ago.

The price of anhydrous milk fat gained 7.2 percent to US$3,500 a tonne and butter milk powder rose 3.7 percent to US$3,530 a tonne. Cheddar slipped 0.1 percent to US$3,525 a tonne.

Lactose traded at US$1,800 a tonne and milk protein concentrate rose 1.2 percent to US$6,070 a tonne. Rennet casein rose 3.3 percent to US$8,766 a tonne and skim milk powder climbed 0.5 percent to US$3,554 a tonne.

There were 135 winning bidders over 13 rounds. There were 212 participating bidders out of a total number of qualified bidders of 762.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Cosmetics & Pollution: Proposal To Ban Microbeads

Cosmetic products containing microbeads will be banned under a proposal announced by the Minister for the Environment today. Marine scientists have been advocating for a ban on the microplastics, which have been found to quickly enter waterways and harm marine life. More>>

ALSO:

NIWA: 2016 New Zealand’s Warmest Year On Record

Annual temperatures were above average (0.51°C to 1.20°C above the annual average) throughout the country, with very few locations observing near average temperatures (within 0.5°C of the annual average) or lower. The year 2016 was the warmest on record for New Zealand, based on NIWA’s seven-station series which begins in 1909. More>>

ALSO:

Farewell 2016: NZ Economy Flies Through 2016's Political Curveballs

Dec. 23 (BusinessDesk) - New Zealand's economy batted away some curly political curveballs of 2016 to end the year on a high note, with its twin planks of a booming construction sector and rampant tourism soon to be joined by a resurgent dairy industry. More>>

ALSO:


NZ Economy: More Growth Than Expected In 3rd Qtr

Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport ... More>>

  • NZ Govt - Solid growth for NZ despite fragile world economy
  • NZ Council of Trade Unions - Government needs to ensure economy raises living standards
  • KiwiRail Goes Deisel: Cans electric trains on partially electrified North Island trunkline

    Dec. 21 (BusinessDesk) – KiwiRail, the state-owned rail and freight operator, said a small fleet of electric trains on New Zealand’s North Island would be phased out over the next two years and replaced with diesel locomotives. More>>

  • KiwiRail - KiwiRail announces fleet decision on North Island line
  • Greens - Ditching electric trains massive step backwards
  • Labour - Bill English turns ‘Think Big’ into ‘Think Backwards’
  • First Union - Train drivers condemn KiwiRail’s return to “dirty diesel”
  • NZ First - KiwiRail Going Backwards for Xmas
  • NIWA: The Year's Top Science Findings

    Since 1972 NIWA has operated a Clean Air Monitoring Station at Baring Head, near Wellington... In June, Baring Head’s carbon dioxide readings officially passed 400 parts per million (ppm), a level last reached more than three million years ago. More>>

    ALSO:

    Get More From Scoop

     
     
     
     
     
     
     
     
    Business
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news