The latest Global Dairy Trade (GDT) event has concluded with the GDT price index up 0.6%.
The average price was $3,610/MT with 29,570MT of product sold at today’s (Tuesday, December 6) event.
There were 118 winning bidders, out of a total of 156 participating bidders at the event, across 17 bidding rounds lasting two hours and 35 minutes.
Global Dairy Trade event
There were seven products offered at today’s event with five products showing increases, while two displayed decreases.
Skim Milk Powder (SMP) saw an increase of 1.7% for an average of $3,102/MT, while Butter Milk Powder (BMP) saw the biggest increase of 4.7% for an average of $2,979/MT.
Anhydrous Milk Fat (AMF) saw a 1.8% increase with an average of $5,797/MT while cheddar also saw a similiar increase of 1.8% giving an average of $4,826/MT.
Whole milk Powder (WMP) saw the smallest decrease in today’s event, with an increase of 0.1%, averaging $3,400/MT. Sweet Whey Powder was not offered again.
It’s the second GDT event in recent weeks which recorded a slight increase in the index.
Dairy markets
Meanwhile, one of the biggest companies trading on dairy markets is Ornua. The group is structured across two divisions: Ornua Foods and Ornua Ingredients. Headquartered in Dublin, it has annualised sales of over €2.5 billion.
Ornua was recently awarded the prestigious Company of the Year award for 2022 at this year’s Business and Finance Awards.
Ornua CEO John Jordan accepted the award on behalf of the business at the gala awards ceremony, held in Dublin’s Convention Centre.
The event was attended by leading political, international business, and social leaders, including president of the European Commission, Ursula von der Leyen, and Taoiseach, Micheál Martin.