Fonterra announces to introduce skim milk powder to its monthly internet auction global DairyTrade next month, taking 20 per cent of New Zealand's total milk production online and aiming to give the world a regular benchmark price for this commodity.

The recent figures reports the average milk powder price in Fonterra's global Dairy Trade to have slipped for a second month in a row leaving prices 8.5 per cent below December figures.

The next slip comes after five consecutive rises last year, which conglomerated to register a 95per cent increase in milk powder prices.

Paul Grave, gDT's manager, claims the result was expected in current market conditions, and at the high end of historic prices.

The February auction, which closed this morning, witnessed whole milk powder grab US$3,256 per tonne, lowered from US$53 per tonne on January's average which itself was down by 7 per cent on December's price. Prices ranged from US$3,175 to US$3,355 per tonne.

The prices for skim milk powder pose a weakness in the US and Europe in the past month, as Europe milk production moves towards its peak for the year, and supply exceeded demand.

Fonterra is in a process to lure other sellers to gDT to give the sales platform more credibility.