While the auction that happened a fortnight ago offset the declined over the past four months, the prices at the dairy commodities firmed 1.9% overnight at the Fonterra's online auction.

It is to be mentioned here that the average selling price for all the contracts moving all across its product lines have risen to $3,663 a tonne.

It is to be mentioned here that prices paid for the core product, whole milk powder jumped 1.4% in the morning session standing at $3,602 for a tonne. It may be recalled here that the directors at Fonterra reviewed their forecast payout last month for the 10,500 farmers in New Zealand.

However, the directors even then left the prices at $NZ 6.9 to $NZ 7.1 saying that the prices will improve in the period left in the year.

TVNZ Business Editor Corin Dann said that the small rise in the overall index is surely because of the strong results and it should provide some sense of relief for Fonterra farmers in New Zealand. Moreover, he also said that the recent jump on the profits last month has surely consolidated the position of the company.