New Zealand Fonterra's dairy prices rise sharply

New Zealand dairy giant Fonterra's latest global online dairy products auction has seen a price rise of almost 17 percent on last month.

It's the first rise in four months of falling prices.

Whole milk powder prices averaged 3,522 U.S. dollars per tonne, up almost 19 percent on last month's auction, Fonterra said on Thursday.

Skim milk powder price rose almost 16 percent, averaging 3,197 U.S. dollars, while anhydrous milk fat was up almost 9.5 percent to 4,681 U.S. dollars per tonne.

Fonterra's global dairy trade manager, Paul Grave, said a record 151 bidders reflected the market's positive tone over the past month.

Source:Xinhua