The FAO Dairy Price Index averaged 102.0 points in August, almost unchanged from July and up 1.7 points (1.7 percent) from the corresponding month last year.
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Quotations for both cheese and whole milk powder (WMP) fell due to reduced demand for spot supplies on expectations of ample export availabilities in Oceania in the new production season.

By contrast, price quotations for butter increased as a result of tightening export availabilities in Europe due to a rise in internal demand while the August hot spell reduced milk production, which was already in its seasonal decline.

Meanwhile, quotations for skim milk powder (SMP) increased, underpinned by steady global import demand for medium-term deliveries and reduced milk production in Europe.

It’s been over a year since the COVID-19 pandemic caused milk prices to plummet…

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