Prices fetched for SMP continued its bouncy ride and fell to Rs140/kg down 3.5% from the previous auction. The price fell from US$2189/t to US$2100/t.
Quotations from the Milk Market Observatory as at December 27 had prices for EU SMP at US$1887/t, Oceania SMP at US$1888/t and US SMP at US$1714. EU prices were up 1% on 15 days earlier, Oceania saw no change and US prices were up 2%.
Butter faired better showing an improvement in prices, up 2% from the previous auction to Rs 255/kg after remaining stagnant since early November. In US$ terms the price rose from US$3774/t to US$3820/t.
Quotations from the Milk Market Observatory as at December 27 had prices for EU butter at US$3218/t, Oceania butter at US$3100/t and US butter at US$4561/t. EU prices were up 0.4% on 15 days earlier, Oceania prices were up 5.1% and US prices were down 20.6%.
The next DTI Dairy Commodity e-auction is on January 26, 2016.
