The decline at the auction of Global Dairy Trade continues
The weighted average price for dairy products at 254th auction of the GDT was 3,176 USD/kg. Taking into account the strengthening of the ruble against the dollar in comparison with the previous auction, the weighted average price of dairy products in the Russian currency decreased by 2.5% to 201.1 rubles / kg, which is 7.2% lower than in February 2019.
In total, 28,181 tons of dairy products were sold at the auction, 825 tons less than at the previous auction. Number of bidders - 175.
Prices for all exchange-traded dairy products declined, only the price of cheddar continued to rise (+5.3%), skimmed milk powder and whole milk powder fell by 2.6%, butter decreased in price by 3.9%, the price of dehydrated milk fat decreased by 5.5%, and casein fell by 0.9%.
The next auction of the Global Dairy Trade will take place on March 3, 2020.