GDT 2022 Review
Posted on: 21/02/23
GDT held its 326th auction today and its latest review of 2022 auction activity makes for interesting reading.
The auction traded 647,296 million tonnes of product during 2022 with product originating from Europe, USA and the home region of Oceania.
An average of 95% of the product offered at the auctions was sold with a total value for the year of £2.24 billion (US $ 2.7 billion).
There were 264 successful buyers from 66 countries with an average of 159 successful bidders buying at each sale.
The auction price index reached an all time record in March 2022 at 1593 and by December had fallen by 34% to 1060. A new SMP price record of US $ 4598 set in April 2022 and one for WMP set at $4747 in March with butter setting a record in March at $7112 and a cheddar record the same month at $6590.
Over 78% of all product traded at the auction was either WMP or SMP.
It certainly looks to be the case that the GDT auction is the worlds premier and foremost dairy product price discovery platform.