Fonterra Milk Powder Prices are Set Lower

Posted by Brian Gould Thu, 08 Jan 2009 16:19:00 GMT

Fonterra Cooperative Group Ltd., the world’s biggest dairy exporter, said whole milk powder auction prices fell to their lowest in more than two years amid slowing global demand.

The average price fell 9.3 percent to $2,017 a metric ton in a sale yesterday, the company said on its GlobalDairyTrade Web site. Milk powder slumped a sixth month and is down 54 percent since the company began the monthly auctions in July.