WELLINGTON, March 4 (Bernama-Xinhua) -- Global dairy prices rose 5.7 per cent to US$4,301 per tonne at the latest Global Dairy Trade (GDT) auction overnight, marking the fifth straight rise since January amid Middle East tensions, reported Xinhua.
Following a 3.6-per cent rise at the previous one, the overnight event saw strong buying interest despite high milk production in key regions, with the volume on offer down as New Zealand nears the end of its milking season, said Cristina Alvarado, head of the Dairy Data & Insights team at New Zealand's Exchange (NZX).
Whole milk powder, a key farmer payout benchmark, climbed 4.5 per cent to US$3,863 a tonne, the GDT auction showed.
Price gains also include skim milk powder up 9.1 per cent, butter 6.1 per cent, mozzarella 7.9 per cent and cheddar 4.3 per cent.
North and South Asia dominated the purchases, but Europe, the Middle East and Africa strengthened participation despite the Middle East conflict disrupting logistics, Alvarado said.
The GDT is a leading online platform for transparent dairy auctions that set global benchmark prices, involving buyers and sellers from over 60 countries and regions.
Founded in 2008 and headquartered in New Zealand's Auckland, it is equally owned by Fonterra, NZX and the European Energy Exchange.
--BERNAMA-XINHUA
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