The index of prices for the Global Dairy Trading platform fell 4.7% in Tuesday’s trading session. It’s the fourth drop in a row and the sixth drop in the last eight trading sessions.
Anhydrous milk fat had the largest price loss, down 7.2% at $4,736 per metric ton or $2.14 per pound.
Whole milk powder was down 5.2% to $3,053 per metric ton or $1.38 per pound.
Butter was down 3.3% at $4,595 per ton or $1.38 per pound.
Buttermilk powder prices fell 3.3% to $2,529 per ton or $1.14 per pound.
Skim milk powder was down 2.5% at $2,579 per ton or $1.16 per pound.
The only product gaining in value Tuesday was Cheddar cheese, as prices were up 3.8% to $4,167 per ton or $1.89 per pound.
Lactose and sweet whey powder had no market activity.
With Skimmed milk powder priced at around Rs 210 per kgs and Butter and ghee at around Rs 380 and 390 per kgs, the Indian commodity prices look very highly priced and thus uncompetitive.
There were 138 participating bidders with 117 winning bidders as 23,828 metric tons of dairy products were sold Tuesday.
