In November, prices of dairy products increased globally for the second month in a row

International butter and skimmed milk powder prices increased in November due to strong demand from Northeast Asian customers, limited stocks, and increased domestic demand in Western Europe ahead of the winter holidays. Whole milk powder prices also rose, but subdued demand from Asian customers and steady production in Oceania limited month-on-month growth. The weakening of the US dollar against the euro also contributed to the increase in global prices of dairy products, while global cheese prices continued to decline due to high availability of export products, especially cheddar cheese, despite tight milk supplies in Western Europe.