The Dairy Price Index in 2020 averaged slightly lower than in 2019
World milk output continued to rise in 2020, with Asia registering the highest volume increase from 2019
World trade in milk products rose in 2020, driven by a few Asian and Middle Eastern countries.
International trade in whole milk powder, whey and cheese rose, while that in skim milk powder and butter fell
Global dairy prices
International dairy prices registered a slight decline in 2020
International dairy prices, measured by the Food and Agriculture Organization of the United Nations (FAO) Dairy Price
Index, averaged 101.8 points in 2020, down 1.0 points (1.0 percent) from 2019, primarily reflecting reduced import
demand due to widespread economic downturns in many dairy importing countries. High export availabilities in
exporting countries, caused by reduced internal sales, coupled with increased processing of less labour-intensive milk
products, especially milk powders, to overcome labour shortages, also weighed on global milk prices.