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: Government Ekes Out Six-Month Surplus Of $9M

The New Zealand government eked out a tiny surplus in the first six months of the fiscal year as growth in domestic consumption lifted the goods and services tax take, while uncertainties over the Kaikoura earthquake costs meant expenses were less than expected. More>>

ALSO:

Almost 400 Jobs: Shock At Cadbury's Dunedin Factory Closure

Workers at Cadbury in Dunedin are reeling after learning this morning that the iconic Cadbury factory is to close, with the loss of almost 400 jobs... “The company had reported it was doing well and this has come out of the blue,” says Chas. More>>

ALSO:

Transport: Boards Of Inquiry For Auckland Roading Projects

Boards of Inquiry have been appointed to decide on two significant Auckland roading projects in a move which will get a decision by the end of the year, Environment Minister Dr Nick Smith and Conservation Minister Maggie Barry announced today. More>>

ALSO:

Three Months On: Quake Reciovery In Kaikōura And Elsewhere

Three months after the magnitude 7.8 earthquake on 14 November, encouraging recovery progress is being made in affected communities. More>>

ALSO:

Jetstar, Qantas For Govt Transport: Government Still In Talks With Air NZ

The government is still negotiating with national carrier Air New Zealand in a cross-agency air travel contract that will add a number of new airlines to the list of approved flyers. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news