May 17 (Reuters) - International milk prices rose while volumes...

May 17 (Reuters) - International milk prices rose while volumes dropped in this month’s second auction held by New Zealand's Fonterra Co-operative Group, the world's biggest dairy exporter.

Fonterra's GDT Price Index climbed 2.6 percent, with an average selling price of $2,283 per tonne, in the auction held on Tuesday.

The index fell 1.4 pct at the previous sale, said Fonterra, which is known for brands such as Anchor, Anlene and Fresh n' Fruity.

A total of 18,113 tonnes was sold at the latest auction, falling 12.1 percent from the previous one, the cooperative said on its website (www.globaldairytrade.info).

The auctions are held twice a month, with the next one scheduled for June 1.

The auction results can affect the New Zealand dollar as the dairy sector generates more than 7 percent of the nation's gross domestic product. The New Zealand milk co-operative, which is owned by about 10,500 farmers, controls nearly a third of the world dairy trade.

(Bengaluru Commodities desk) (( [email protected] ; within U.S. +1 651 848 5832; outside U.S. +91 80 6749 1298; Reuters Messaging: rmchat://room/reuters.com/Bangalore-CE-News ))