Rising dairy product prices in the world market

Dairy prices on the rise in the world market Dairy prices are on the rise in the world market. The highest increase in prices was recorded for skim milk powder and mozzarella in the latest Global Dairy Trade (GDT) auction. 175 buyers participated in the latest auction and a total of 24,034 tonnes of dairy products were bought and sold. The average price per tonne in the auction stood at $3,830. The price of Fonterra, a New Zealand farmer cooperative, increased by 5.3 percent. The average price per tonne stood at $3,614. On the other hand, the price of skim milk powder increased by the most, by 10.6 percent. The average price per tonne of this product stood at $2,874. The GDT price index also showed a significant increase in the price of mozzarella this week. The price of mozzarella in the auction increased by 10.6 percent to an average price of $3,694 per ton. In addition, the price of butter increased by 8.8 percent to $5,773 per ton. At the same time, the price of buttermilk powder increased by 6.4 percent to an average price of $3,147 per ton. The price of anhydrous milk fat is also on the rise. The price of this product increased by 5 percent to an average price of $6,524 per ton in the auction. According to analysts, this increase in the price of dairy products is being seen due to increased demand and limited supply in the global market, which is likely to continue in the coming days. ---