Global: In November, the average value of the FAO Food Price Index did not change

Published 2023년 12월 8일

Tridge summary

The FAO Dairy Price Index in November rose 2.2 percent compared to October, but was still 16.9 percent lower than the same period last year. Butter and skimmed milk powder prices increased due to high import demand, limited stocks, and increased domestic demand in Europe. Dry whole milk prices also went up, but were limited by tired import demand from Asian countries and strong production in Oceania.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The average value of the FAO Dairy Price Index in November was 114.2 points, which is 2.5 points (2.2 percent) higher than the October indicator; thus, the growth of this index continues for the second month in a row, but still its value turned out to be 23.2 points (16.9 percent) lower than in the corresponding period last year. Global butter and skimmed milk powder prices rose in November due to high import demand from North-East Asian countries, limited stocks and increased domestic demand ahead of the winter holidays in Western Europe. The same factors influenced the increase in the prices of dry whole milk, however, the restraining factor that prevented their significant growth this month was the tired import demand from the countries of Asia, as well as the confident pace of production in Oceania. The weakening of the US ...

Source: MilkUA