March 21 (Reuters) - International milk prices fell
while volumes were up at this month's second Global Dairy Trade
(GDT) auction on Tuesday.
The GDT Price Index was down 2.6%, with an average selling
price of $3,361 per tonne. The index was down 0.7% at the
previous auction held on March 7, with an average selling price
of $3,403, according to GDT Events.
A total of 26,795 tonnes of dairy products were sold at the
latest auction, up about 0.2% from the previous sale, the
auction platform said on its website.
The auction results could affect the New Zealand dollar as the dairy sector generates more than 7% of the
nation's gross domestic product.
The New Zealand milk co-operative, which is owned by about
10,500 farmers, controls nearly a third of the world's dairy
trade.
GDT Events is owned by New Zealand's Fonterra Co-operative
Group Ltd , but operates independently from the dairy
giant.
U.S.-listed CRA International Inc is the trading
manager for the Global Dairy Trade auction, held twice a month,
with the next one scheduled for April 4.
(Reporting by Ashitha Shivaprasad and Rahul Paswan in
Bengaluru; Editing by Jan Harvey)
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