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WMP prices hit highest level in over a year

This article was originally published in Foodnews

POWDERED milk powder prices have hit a 16-month high on increasing global demand and reduced supplies from Australia and New Zealand. Whole milk powder (WMP) for February delivery rose 5.1% to NZ$5 014 per tonne (US$3 523/tonne) at the latest Fonterra online auction. It was the fifth consecutive monthly increase and "pretty much supply driven", according to Paul Grave, manager of Fonterra's GlobalDairyTrade unit.



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