International milk prices rose while volumes fell at this month's Global Dairy Trade (GDT) auction on Tuesday.
The GDT Price Index was up 3.2%, with an average selling price of $3,362 per tonne. The index was down 4.7% at the previous auction held on April 4, with an average selling price of $3,227, according to GDT Events.
A total of 22,713 tonnes of dairy products were sold at the latest auction, down about 4.7% from the previous sale, the auction platform said on its website.
The auction results could affect the New Zealand dollar as the dairy sector generates more than 7% of the nation’s gross domestic product.
Cloe Desirée Juarez
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