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

 

Dairy product prices fall 0.8% in first GDT auction of 2014

Dairy product prices fall 0.8% in first GDT auction of 2014, led by skim milk powder

Jan. 8 (BusinessDesk) - Dairy product prices fell in the first GlobalDairyTrade auction for 2014, led by skim milk powder while rennet casein made a new record high.

The GDT Price Index dropped 0.8 percent compared to the last sale two weeks ago. The average winning price was US$4,943 a tonne, still an elevated level, from US$4,990 a tonne.

Skim milk powder fell 3.4 percent to US$4,688 a tonne and whole milk powder, the biggest product by volume, fell 0.6 percent to US$4,934 a tonne

The average winning price of rennet casein, a functional ingredient used in everything from sliced cheeses to products that can be whipped or foamed, rose 1.1 percent to US$11,903 a tonne, having jumped 7.3 percent and 18.9 percent in the past two auctions respectively. Cheddar rose 1.9 percent to US$4,656 a tonne.

The total volume of dairy products sold at the latest GDT auction fell to 46,418 tonnes from 47,858 tonnes in the previous auction.

The price of anhydrous milk fat fell 1.8 percent to US$5,538 a tonne and butter rose 5.1 percent to US$4,223 a tonne, the highest average price since May last year. Butter milk powder gained 0.5 percent to US$4,539 a tonne.

Milk protein concentrate rose 5.2 percent to US$9,010 a tonne and lactose rose 5.8 percent to US$1,826 a tonne.

There were 152 winning bidders over 12 rounds. There were 208 participating bidders out of a total number of qualified bidders of 828.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Crown Accounts: Slightly Softer Growth Expected In PREFU

A slightly softer growth forecast is the main feature of largely unchanged Pre-election Fiscal Update compared to the Budget forecasts three months ago, Finance Minister Steven Joyce says. More>>

ALSO:

Water: Farming Leaders Pledge To Help Make Rivers Swimmable

In a first for the country, farming leaders have pledged to work together to help make New Zealand’s rivers swimmable for future generations. More>>

ALSO:

Unintended Consequences: Liquor Change For Grocery Stores On Tobacco Tax

Changes in the law made to enable grocery stores to continue holding liquor licences to sell alcohol despite increases in tobacco taxes will take effect on 15 September 2017. More>>

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO: