According to the latest data released, the average price of dairy products in the global markets rose about 1.1 per cent as demand strengthened in various countries.

The average winning price for $US4598 per metric tonne while the whole milk powder prices rose 2.2 per cent and butter rose 4.7 per cent in the global markets. On the other hand, Cheddar and butter milk powder fell in the international markets. The data also showed that the total volumes fell slightly for the first time since April by 2 per cent to 23,700 metric tonnes.

Dairy prices at Fonterra's latest international online auction rose in the previous year halting a fall from the previous three years. The GlobalDairyTrade's trade-weighted price index rose 1.1 per cent compared to the previous sale recorded two weeks earlier. The index had gained steadily for nine consecutive auctions due to increasing demand and concerns over the impact of New Zealand's drought on the production in the country.

The average winning price was recorded at US$4598 a tonne, compared to US$4443recorded two weeks earlier in the market. Its maximum supply fell to 24,170 tonnes from 25,888 tonnes, with a total of 23,674 tonnes sold.