The FAO Dairy Price Index - May 2015
The FAO Dairy Price Index averaged 167.5 points in May, down 5 points (2.9 percent) from April. Milk powders and butter were the main commodities affected, while cheese remained stable. The lingering low prices characterizing world markets reflects large unsold stocks in New Zealand and the buildup of export supplies in Europe, as production in the northern-hemisphere reaches its seasonal peak. Uncertainty over the level of China's purchases of milk powder during 2015 continues to weigh on the market, although lower prices have stimulated buyer interest in the Middle East and North Africa.
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