The FAO Dairy Price Index - October 2016
The FAO Dairy Price Index averaged 182.8 points in October, up 6.8 points (3.9 percent) from September. Quotations rose for all dairy products, in particular butter which was bolstered by reduced stocks and sustained internal demand in the EU, combined with a rise in buying interest by importing countries. Cheese prices also strengthened, while milk powders recorded more modest increases. Falling month-on-month milk production in the EU and lower output in Oceania have raised expectations of a likely forthcoming tightening in export supplies and fuelled a price surge in recent months.
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