The FAO Dairy Price Index - July 2015
The FAO Dairy Price Index averaged 149.1 points in July, down 11.5 points (7.2 percent) from June. Prices for dairy commodities declined across the board, with milk powders being most affected, followed by cheese and butter. Subdued import demand from China, the Middle East and North Africa caused prices to fall. Additionally, some manufacturers in New Zealand reduced prices in an attempt to trim inventories prior to the closure of the financial year, at the end of July. EU milk production is currently running above its level of a year ago, resulting in good availability of products for export.
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