Fonterra says whole milkpowder prices today fell for a fifth time in its internet auctions, taking them to their lowest in more than two years reported The NZ Herald. Fonterra's trading manager, CRA International, said the average price across all products and contract periods for whole milkpowder (WMP) was $US2223/tonne, 14% lower than for the previous auction in November. Prices ranged from $US2045 a tonne to $US2455 a tonne, with milkpowder for February delivery down 15 per cent to an average US$2078 ($NZ4000) a tonne. "The current economic crisis has resulted in a significant drop in the demand for dairy commodities, and a continued decline in prices was expected," said Guy Roper, Fonterra's commercial director of GlobalTrade. Fonterra said that over the past two years, the US Department of Agriculture had reported a 45% decline in EU Skim Milk Powder prices.
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