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Sharp increase in international dairy product prices

International dairy product prices increased sharply at the latest Fonterra Global Dairytrade sale held on 6 September. Prices were on average 7,7% higher than at the previous sale. This is the third increase in prices since prices since July 2016. Prices increased by 6,6% and 12,7% at the two auctions held in August. Prices are now 30% higher than in July 2016. The increasing trend is also visible in the prices quoted by the US Department of Agriculture as shown in the following table:

Table 1: FOB prices for New Zealand dairy products, September 2015

and September 2016 

  Butter Skimmed milk powder Cheddar Full-cream milk powder
Sep-15 2 906 1 862 3 000 2 025
Sep-16 3 400 2 100 3 350 2 750
% Change 17% 13% 12% 36%

 

Source: USDA, 2016

Published on Monday, 19th September 2016 - 12:18

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