Global Dairy Trade issues annual report
by Moneyofficeteam 26 February 2024 · World Affairs / World History / World Issues
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Global Dairy Trade issues annual report
The Global Dairy Trading platform continues to evolve as it connects buyers and sellers. The trading platform issued its 15th Annual Report Wednesday, showing it facilitated over 36 billion dollars in dairy trades last year.
2023 also saw the addition of three new product sellers. Valley Milk and Darigold Inc. from the U.S. joined the group in June and July respectively. European producer Solarec started using the GDT platform in September. The other sellers include Arla, Arla Foods, Dairy America, and NZMP.
The Global Dairy Trade Price Index fell by 24% compared to 2022, reaching a five-year low in August. Whole milk powder and skim milk powder accounted for 80% of the products traded in 2023, but skim milk powder reached a four-year low in September and whole milk powder reached an eight-year low in August. Cheddar cheese prices dropped 20% last year.
Trading for Mozzarella cheese began in 2023, bringing eight new product groups to the auction.
The annual report says peak shipment volumes were from November to February, with November and December 2023 shipments reaching a four-year high.
