The global dairy trade platform announced on the 19th the transaction data showed that in the latest auction, the global dairy product transaction price index rose by 3.1%, the third consecutive increase.
The global dairy product trading platform is composed of international dairy product sellers led by Fonterra New Zealand. It generally organizes a dairy product auction every two weeks. Buyers are located in more than 90 countries and regions around the world, and its auction price directly affects global dairy product pricing.
In the latest auction, the transaction price of whole milk powder with indicator meaning was US $ 2,998 per ton, up 3.5% from the previous auction. The price of whole milk powder is an important indicator for the purchase price of raw milk by large dairy companies such as Fonterra.
New Zealand dairy industry analysts said that in the short term, the price increase of dairy products may be affected by the cyclone "Cook" in the past. The market is worried that "Cook" will affect the production capacity of New Zealand's dairy products, causing the price of dairy products to rise.
However, New Zealand ’s domestic agriculture and farm credit bank Rabobank ’s recent forecast shows that New Zealand ’s dairy production this season will be higher than previously expected, which may become a factor affecting the continued rise in dairy prices. The bank also said that from a global perspective, dairy production capacity is still limited, coupled with strong market demand in China, the current dairy product price should be able to obtain support.
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