World dairy prices shot up by 15 per cent on a global auction this week.
That comes after a three per cent increase two weeks ago.
The top price for whole milk powder went up by 21 per cent to $4,364 US per tonne; the average for the auction was $4,231 US a tonne.
Almost all other dairy commodities also rose; butter was up by 13.7 per cent to average $5,826 US a tonne.
Amy Castleton, a dairy market analyst in New Zealand, said this was definitely a higher result than anyone expected. Some analysts were predicting a lift, but only of three to four per cent.
