April 4 (Reuters) - International milk prices and
volumes fell at this month's Global Dairy Trade (GDT) auction on
Tuesday.
The GDT Price Index was down 4.7%, with an average selling
price of $3,227 per tonne. The index was down 2.6% at the
previous auction held on March 21, with an average selling price
of $3,361, according to GDT Events.
A total of 23,828 tonnes of dairy products were sold at the
latest auction, down about 11.1% 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 18.
(Reporting by Rahul Paswan and Ashitha Shivaprasad in
Bengaluru; Editing by Pooja Desai)
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