The FAO Dairy Price Index - June 2015
The FAO Dairy Price Index averaged 160.5 points in June, down 6.9 points (4.1 percent) from May. Milk powders were the products most affected by the market weakness, although prices of butter and cheese also declined. A favourable opening to the dairy-year and the abolition of the milk quota system in the EU, along with large unsold dairy stocks in New Zealand weighed on the sector, amid uncertainty over the level of China’s dairy imports and the maintenance of import prohibitions by the Russian Federation.
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