GLOBALDAIRYTRADE EVENT REFLECTS STABLE MARKET
globalDairyTrade, Fonterra’s internet-based sales platform, concluded its March trading event this morning (NZT) with the average price for Whole Milk Powder up 0.8%, or US$25 per tonne, from the February event.
globalDairyTrade, Fonterra’s internet-based sales platform, concluded its March trading event this morning (NZT) with the average price for Whole Milk Powder up 0.8%, or US$25 per tonne, from the February event.
The trading manager, CRA International, advised Fonterra that the average price achieved across all contracts and contract periods for Whole Milk Powder (WMP) was US$3,281 per tonne FAS. Prices ranged from US$3,180 per tonne FAS to US$3,395 per tonne FAS.
Paul Grave, globalDairyTrade Manager, said this was a pleasing result that reflected a relatively stable market over the last four weeks.
“There is still an element of uncertainty as to how supply and demand factors will influence prices over the coming months,” Mr Grave said. “Buyers are focused on ensuring their short to medium term supply requirements have been secured.”
For Anhydrous Milk Fat (AMF), the average price achieved across all contracts and contract periods was US$3,959 per tonne FAS. This was US$224 per tonne, or 5.4%, lower than the February event.
The event included sales of Skim Milk Powder (SMP) for the first time. For SMP, the average price achieved across all contracts and contract periods was US$2,927 per tonne.
The next globalDairyTrade trading event will be held on April 6, 2010. See www.globalDairyTrade.info for more details.
About Fonterra
Fonterra is a global leader in dairy nutrition – the preferred supplier of dairy ingredients to many of the world’s leading food companies. Fonterra is also a market leader with our own consumer dairy brands in Australia/New Zealand, Asia/Africa, Middle East and Latin America.
The farmer-owned New Zealand co-operative is the largest processor of milk in the world, producing more than two million tonnes of dairy ingredients, value added dairy ingredients, specialty ingredients and consumer products every year. Drawing on generations of dairy expertise, Fonterra is one of the largest investors in dairy based research and innovation in the world. Our 16,000 staff work across the dairy spectrum from advising farmers on sustainable farming and milk production, to ensuring we live up to exacting quality standards and delivering every day on our customer promise in more than 100 markets around the world.
