The FAO Dairy Price Index - September 2016
The FAO Dairy Price Index averaged 176 points in September, up as much as 21 points (13.8 percent) from August. Quotations rose for all dairy products, in particular butter, which was bolstered by reduced stocks and strong internal demand in the EU. The Index has risen by 49 points, 38 percent, since April. The current price surge stems from expectations that falling milk production in the EU and a muted opening to the dairy year in Oceania would result in tighter availabilities for export, following excess supplies in the preceding two years.
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