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Journal, magazine, bulletinDairy market review: Price and policy update - July 2020 2020
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No results found.International dairy prices in June, measured by the FAO Dairy Price Index, were down by 5.7 points (5.4 percent) from January 2020, with skim milk powder (SMP) registering the sharpest fall (-15.3 percent), followed by butter (11.8 percent), whole milk powder (WMP) (-11.2 percent), while cheese prices rose (+1.6 percent). In the key dairy importing countries, COVID-19-related lockdowns and social distancing measures reduced food-service sales in the first months of the year, especially of fresh milk and milk products, which were only partly offset by increased sales of dairy products with a longer shelf-life, such as UHT milk, packaged butter and cheese. As in other economic crises, the deterioration of income prospects weighed disproportionately on consumer demand for high-value food commodities, such as dairy products. Depressed retail milk sales resulted in larger volumes of milk being processed in industrial plants, where such facilities were operational. In dairy exporting countries, milk was mostly diverted to drying dairy plants, boosting production, and availability of milk powders. Overall, the downgrading of economic prospects and market disruptions caused by the pandemic are anticipated to result in a fall in global dairy imports in 2020, which, amid adequate availabilities in key exporting countries, could keep international prices under pressure. -
Journal, magazine, bulletinDairy Market Review: Price and policy update. December 2019 2019
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No results found.The FAO Dairy Price Index recorded 192 points in October, an increase of 9.8 points (5.4 percent) since January, but 83.4 points (30.3 percent) below its peak reached in February 2014. From January to May, the index value rose by 24 percent, but from June to October, the value dropped by 15 percent. Dairy price increases in the first three months in 2019 primarily stemmed from limited export supplies along with strong internal demand in Europe and seasonally tight export availabilities from Oceania. From April to May, international demand for dairy products remained robust, while export supplies were relatively limited due to drought in Oceania, especially Australia, but also dry weather in Europe during the summer. Since June, dairy prices weakened, reflecting a market optimism over possible increases in export supplies from Oceania, mainly New Zealand, in its 2019/20 production season. Milk production in the North and South America was stable, providing stability to international prices. In Europe, prices weakness stemmed from relative inactivity of dairy markets due to summer holidays. Increased export availability further added to price weakness towards September and October. -
Journal, magazine, bulletinDairy Market Review - December 2018 2018
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No results found.Buoyed by rising export availabilities, dairy prices weakened in the second half of 2018. Milk production increased in key producing countries, including New Zealand in the 2018/19 production cycle. Aided by high production in some regions, global butter supplies improved in recent months, while cheese trade expanded in 2018 at a slow pace than in 2017. Trade in Skim Milk Powder (SMP) and Whole Milk Powder (WMP) expanded on ample supplies and competitive prices.
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