Dairy product prices rose at the Global Dairy Trade auction, gaining for the first time in five events, amid strong demand.
The GDT price index increased 2.7 percent from the previous auction two weeks ago. The average price was US$3,587 a tonne. Some 19,262 tonnes of product was sold, up from 17,222 tonnes two weeks ago.
Fonterra's COO Farm Source Miles Hurrell spoke to The Country's Jamie Mackay about the GDTA saying it was "better than expected," and that strong demand out of China underpinned the result.
"Overall a pleasing result, farmers should be comfortable with that."
Also in today's interview: Miles Hurrell talks about Fonterra's Milk for Schools programme and deflects Jamie's enquiries into whether he is putting his name forward for Theo Spiering's role as the dairy co-op's CEO.
