During the session of August 20 this year, the Global Dairy Trade exchange saw a clear increase in dairy product prices. The value of the general price index at the last auction increased by 5.5 percent, after two previous minor increases.
The increase in the value of the general price index influenced the increase in the prices of most of the offered categories of dairy products. The largest increase was recorded by whole milk powder (+ 7.2%). The only category that decreased in price was Cheddar cheese (- 0.2%). Buttermilk powder was not offered for sale during this session again.
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Dairy product sales volume in upward trend
During the last session of the GDT, 34,916 tons of dairy products were sold, which was a result of over 18 thousand tons higher compared to the previous auction. The results of the last session of the GDT are as follows:
• Anhydrous milk fat – increase by 4.8 percent,
• Butter – increase by 3.7 percent,
• Buttermilk powder – not offered,
• Cheddar cheese – down 0.2 percent,
• Lactose – increase by 2.7 percent,
• Mozzarella – increase by 5.0 percent,
• Skimmed milk powder – increase of 4.0%,
• Whole milk powder – up 7.2 percent
Source: GDT
The dynamics of the growth of prices of dairy products on the GDT exchange are increasing. The sector is pinning hopes on this trend that these increases will translate into an increase in milk prices at purchase, which would coincide with earlier forecasts of analysts about an increase in milk prices at the end of 2024.
