World prices for milk rose by 28%

Published 2021년 6월 8일

Tridge summary

The Food and Agriculture Organization (FAO) has reported a 1.5% increase in the average value of the Dairy Price Index in May, making it the tenth consecutive month of growth. The index is 28% higher than the previous year, but still 22.8% below its peak in December 2013. This increase is due to higher quotations for skimmed milk, dry whole milk, and cheese, driven by strong import demand and limited supply from the European Union. However, the price of butter fell due to an increase in export supply from New Zealand.

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Original content

The average value of the FAO Dairy Price Index in May was 120.8 points, which is 1.7 points (1.5%) higher than its April level. This was reported in a report by The Food and Agriculture Organization. “Thus, the growth of this index has been going on for a year, as a result of which its value turned out to be 26.4 points (28%) higher than a year ago. Despite this, the value of the index is still 22.8% below the maximum level it reached in December 2013, ”the report says. Analysts emphasized that in May, quotations of skimmed milk rose the most, reflecting strong import demand amid limited spot supply from the European Union, and quotations of dry whole milk rose amid high volumes of imports, especially from China, even though that New Zealand was offering high volumes. Cheese quotations also rose, mainly as a result of the limited supply from the ...

Source: Kvedomosti