Drought in New Zealand and continued strong buying from Russia and China are expected to keep
international dairy commodity prices buoyant in early 2011, according to Rabobank.
The outlook for
international dairy commodity prices has deteriorated since the September 11 terrorist attacks.
WCB chief executive David Lord said strong
international dairy commodity pricing and demand and the declining Australian dollar were a tailwind for earnings.
Not exact matches
The WCB bidding war for Australia's oldest
dairy attracted
international media attention and underscored the value industry players see in soaring demand for
dairy commodities such as milk powders, cheese and infant nutritionals in Asia, and China in particular.
Meanwhile, Mars Ice Cream is concerned about
commodity prices and plans to continue watching
international demand for
dairy inputs that carry potential to drive up costs.
Fonterra is launching a new online sales channel for its
dairy commodities which will allow it to respond more quickly to price changes - and may spur the development of an
international dairy futures or derivatives market.
The Victorian farm gate milk price is highly sensitive to export prices for
dairy commodities, such as powders, in the
international market.
Stronger
international prices of cereals and
dairy drove global food
commodity prices up in March, marketing the second month of a consecutive increase, according to the latest data from the UN's Food Agriculture Organization (FAO).