The FAO Dairy Price Index - April 2016
The FAO Dairy Price Index averaged 127.4 points in April, down 2.9 points (2.2 percent) from March. Quotations for dairy products continued to be affected by ample world supplies and limited buying interest by traditional importers. As in the previous month, while prices for all dairy products fell, those of butter and cheese were the most affected, reflecting a build-up of stocks in the major exporting countries. World prices for Skimmed Milk Powder (SMP) have remained close to the EU intervention price, sustained by intervention purchases which have made stocks in the EU surge compared to April last year, a factor which has also lent a degree of stability to Whole Milk Powder (WMP) quotations.
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