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Fonterra auction passes $4,000/tonne
Published 2 February 11
Latest figures from the Fonterra auction on 01/02/11 show that commodity markets continue to increase in value.
- The average price for all products across all contract periods stood at US$4,246/tonne, an increase of 7.2% compared to the previous auction and the first time prices have been over US$4,000/tonne since July 2008.
- WMP averaged $3,995/tonne across all contracts with a price of $4,035/tonne for delivery in period two (May - Jul 11).
- SMP prices also rose compared to the previous auction, by 8.5% to $3,913/tonne.
- Although only 2,150 tonnes were offered, AMF (Anhydrous Milk Fat) prices average $6,486/tonne in the February auction.
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