At the regular New Zealand auction held on April 16, GDT Events marked an increase in world prices for dairy products.

At the same time, prices for whole milk powder (WMP), the best-selling product, fell again due to reduced demand. According to GDT Events, this is slower than the 0.8% increase in the previous auction.

Average prices for whole milk powder fell 0.7 percent, this is the second auction drop in a row. But dehydrated milk fat (AMF) and butter continued to show strong performance: price indices rose 4.2% and 3.5%, respectively.

A total of 16,166 tons of products were sold at the last auction, which is 9.5% less than at the previous auction. GDT Events is owned by the New Zealand Fonterra Co-operative Group Ltd, but operates independently of the dairy giant. Auctions are held twice a month, and the next is scheduled for May 7.

Fonterra is a New Zealand multinational dairy cooperative owned by approximately 10,500 New Zealand farmers. The company accounts for about 30% of world dairy exports.