The GDT Price Index dipped 1.5 percent, with an average selling price of $4,236 per tonne, in the auction held on Tuesday.
The index rose 1.4 pct at the previous sale, according to GDT Events.
A total of 30,375 tonnes was sold at the latest auction, falling 2.3 percent from the previous one, the auction platform said on its website (Link).
The auctions are held twice a month, with the next one scheduled for Jan. 4.
The New Zealand milk co-operative, which is owned by about 10,500 farmers, controls nearly a third of the world dairy trade.
GDT Events is owned by New Zealand’s Fonterra Co-operative Group Ltd FCG.NZ , but operates independently from the dairy giant.
U.S.-listed CRA International Inc CRAI.O is the trading manager for the twice-monthly Global Dairy Trade auction. (Bangalore Commodities desk)
