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Another uplift at the latest GDT event
Thursday, 21 January 2021
By Bronwyn Magee
Prices have continued to firm on the Global Dairy Trade (GDT) auction, despite COVID-19 restrictions remaining in place for many countries and impacting foodservice demand. With the US dollar weakening, product has become more affordable, possibly providing a boost to demand. The overall (GDT) price index lifted by 4.8% at the latest event (19 January) with notable increases in the price of powders, butter and AMF.
SMP saw a significant lift of 7% from the previous event to $3,243/tonne. This is the highest average price achieved for SMP in the past 5 years. The price of WMP also increased, although at a lesser extent than market expectations at $3,380/tonne, up 2.2% on the last event. These two products accounted for around three quarters of all products sold.
Butter prices also lifted notably, up 4.6% on the previous event to $4,735/tonne. This follows an increase of 7.2% at the previous event, bringing up prices to their highest level since June 2019. AMF saw the largest increase in price at the latest event, lifting a significant 17.2% to $5,398/tonne.
The Cheddar index remained relatively steady on the last event, falling by 0.3% from the previous event.
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