|
|
Article: Fonterra nets 14% less in milk powder auction prices
- Article from:
- The Press
- Article date:
- December 4, 2008
- Author:
CopyrightCopyright 2008 The Press. Provided by ProQuest LLC. (Hide copyright information)
|
World dairy prices are continuing to fall with Fonterra's latest
auction netting prices 14 per cent less than a month ago. The co-
operative's global dairy trade auction - which concluded yesterday -
achieved an average price across all products and contract periods
for whole milk powder of US$2223 (NZ$4200) per tonne.
"The current economic crisis has resulted in a significant drop
in the demand for dairy commodities, and a continued decline in
prices was expected," Fonterra's commercial director of global trade
Guy Roper said. "There will continue to be downward pressure on
prices until either the supply of product declines or buyers have
confidence that the global economic situation will ...