Prices on Fonterra’s globalDairyTrade auction have edged up again, rising an average two per cent across all products.

The average selling price was $US3663 per tonne.

The increase comes after last month’s 17% spike, which ended four months of price drops.

Fonterra globalDairyTrade Manager Paul Grave says the result is good news for a volatile market.

“The price increase we saw last month reflects what we’ve seen in the marketplace, and what we’ve done here is consolidate that position from the last event."

Whole Milk Powder was steady – increasing an average 1.9%.

Anhydrous Milk Fat (AMF) was the big improver, with prices rising more than 10% across all contracts.

"AMF just seems to be driven by global demand for butter and fat bearing products – it seems to be really strong at the moment,” said Mr Grave.