(Yicai Global) Jan. 17 -- Chinese people  are drinking more milk, which has driven price increases globally,  according to a global dairy trading website. 

The price of whole milk powder has  reached USD2,777 per ton, rising 3 percent, data from New Zealand's  Global Dairy Trade auction platform show. 

China's strong demand for both whole and  skimmed dairy products at the end of last year is one of the important  reasons that have led to the price hike, Miles Hurrell, the chief  executive of Fonterra Co-operative Group, which owns Global Dairy Trade,  told Yicai Global.

Price hikes have exceeded expectations,  Hurrell said. The price index of global dairy products has risen 4.2  percent. The price of skimmed milk powder has grown 10.3 percent.

The sharp rise in the price of skimmed  milk powder is closely related to the decrease in the yield of milk in  Europe, caused by the unusually high temperatures in spring and summer  2018, according to the CEO.

The Auckland-based dairy trading hub helps clients from 90 countries and regions to access dairy products. 

Editor: Emmi Laine