At the March 8 event SMP traded at Rs150/kg (US$2230/t) up 7.14% from the previous week when the price was Rs140/kg (US$2043/t).
Latest Milk Market Observatory world quotations as at February 21 showed SMP in EU was priced at US$1864/t, Oceania was at US$1813/t and the US was at US$1641/t.
The trade of butter on the online auction platform continued to be unstable. Poor demand meant no trades were recorded for butter, the second time since the beginning of February and following a record price fetched at the previous auction of Rs 270/kg (US$3939/t).
The next online auction will be held March 22, 2016.
