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Global Dairy Trade Event 352 concluded with the GDT Price Index down 2.8%

GDT price index goes down again by 2.8% dairynews7x7

Global Dairy Price index dropped by 2.8% in today’s Global Dairy trade event. The index has reached to a level of USD 3497/MT. This is a second consecutive drop in the index since last month. One of the major reason behind this drop  is the sluggish global demand .

From Indian market perspective it is not a good news. The index of SMP as well as Butter which are lying in huge stocks in the country have dropped down by 4.8% and 1.4% respectively. Indian dairy exporters were facing the challenge of cheaper SMP from countries like Belarus in neighbouring countries but with this drop their hopes have diminished further. The new global prices of AMF(ghee), Butter and SMP in Indian Rupees have become Rs 557, Rs 525 and Rs 206 respectively.

While Ghee and Butter are still at good price but SMP price may disheartened Indian SMP producers having huge stocks.

Key Results remain as follows

AMF index up 2.5%, average price US$6,794/MT (€6,238/MT)
Butter index down 1.4%, average price US$6,408/MT (€5,883/MT)
Ched index down 1.9%, average price US$4,192/MT (€3,849/MT)
LAC index down 4.4%, average price US$778/MT (€714/MT)
MOZZ index down 1.0%, average price US$3,905/MT (€3,585/MT)
SMP index down 4.8%, average price US$2,517/MT (€2,311/MT)
WMP index down 4.2%, average price US$3,143/MT (€2,886/MT)
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Summary of Results
Number of Winning Bidders 112
Number of Bidding Rounds 13
Duration of Trading Event (hours:mins) 1:51
Minimum Supply (MT) 19,005
Maximum Supply (MT) 22,910

Number of participating bidders 152

Quantity sold (MT) 19,655

Next GDT event will be on April 2nd 2024

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