Tridge summary
The FAO dairy price index increased by 2.2% in November, marking the second consecutive month of growth, but still remains 16.9% lower than November 2022. The increase was driven by higher demand from Asian countries and limited stocks, particularly for butter and skimmed milk powder, as well as increased domestic demand in Western Europe ahead of the winter holidays. However, weak import demand from Asian countries and strong production rates in Oceania limited significant price growth for whole milk powder, while cheese prices fell due to significant export supply, despite seasonal reductions in milk supplies in Western Europe.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
In November, the average value of the FAO dairy price index was 114.2 points, which is 2.2% higher than the October figure. The increase continues for the second month in a row, but the value of the index is 16.9% lower than in November 2022. This was reported to the FAO. In November, an increase in global quotations of butter and skimmed milk powder was recorded. This is due to high import demand from Asian countries, limited stocks and increased domestic demand ahead of the winter holidays in Western Europe. The same factors influenced the increase in prices for whole milk powder. However, weak import demand from Asian countries, as well as confident production rates in Oceania, hindered significant growth. The weakening of the US dollar against the euro also contributed to the increase in world prices for dairy products. World cheese prices in ...
Source: Agrotimes
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