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Milk powder price slumps 8.2% in Fonterra internet auction
Fonterra announced the average price for whole milk powder at its latest internet auction fell 8.2% from January to US$1,851 per tonne. The average price at the internet auctions has fallen 58% from July, when the auctions began.
"Prices should be very attractive to buyers at these levels, and they are not sustainable for global suppliers," Fonterra's Managing Director of Global Trade Kelvin Wickham said. "Prices remain under pressure due to weak demand. However supply is slowing, inventories are running down and we believe we are in the trough of the market."
The globalDairy Trade auctions, held once a month, have been criticised for leading price declines for dairy commodities. Fonterra has called the criticisms "absolute nonesense."
1 Comments
Porkies Kelvin Wickam? Is it
Porkies Kelvin Wickam? Is it the bottom of empty pig trough you are describing? Have you been directed to issue desperate spin ahead of the bond con?
For the sake of NZ and dairy farmers and everyone they suppport I wish I could find your utterances credible......Attractive to buyers maybe but not sustainable if they no longer can afford to buy. The Golden Goose has flown..or have you cooked and eaten the goose?