The trading manager, CRA International, advised Fonterra that the average price achieved across all contracts and contract periods for Whole Milk Powder (WMP) was US$3281 per tonne FAS. Prices ranged from US$3180 per tonne FAS to US$3395 per tonne FAS.

Paul Grave, globalDairyTrade Manager, said this was a pleasing result that reflected a relatively stable market over the last four weeks.

“There is still an element of uncertainty as to how supply and demand factors will influence prices over the coming months,” Mr Grave said. “Buyers are focused on ensuring their short to medium term supply requirements have been secured.”

For Anhydrous Milk Fat (AMF), the average price achieved across all contracts and contract periods was US$3959 per tonne FAS. This was US$224 per tonne, or 5.4 per cent, lower than the February event.

The event included sales of Skim Milk Powder (SMP) for the first time. For SMP, the average price achieved across all contracts and contract periods was US$2927 per tonne.

The next globalDairyTrade trading event will be held on April 6. See www.globalDairyTrade.info for details.