Fonterra has reported that the price of Whole Milk Powder (WMP) fell for the second consecutive month in its online global trading event.
The average price of WMP fell 1.6% to US$3.256 per tonne. Meanwhile, the price of anhydrous milk fat dropped 7.9% to $4,183 a tonne.
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The New Zealand-based dairy giant said that prices have been depressed by expectations of increased output from dairy producers in the northern hemisphere.
“This result is positive given that over the last month dairy prices have been under pressure in Europe and the US,” said Paul Grave, globalDairyTrade manager.
