The FAO Dairy Price Index - November 2016
The FAO Dairy Price Index averaged 186.4 points in November, up 3.6 points (1.9 percent) from October. Quotations rose for Whole Milk Powder (WMP) in particular; butter also firmed. Sustained import demand by markets in the Middle East and North Africa, plus China, combined with limited availability from New Zealand, the main world supplier, led to WMP prices jumping by 9 percent. For butter, the market tightened due to rising domestic usage in the EU and the United States and robust import demand elsewhere. Cheese and Skimmed Milk Powder supply and demand were well-balanced, and prices remained steady.
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