The FAO Dairy Price Index - August 2014
The FAO Dairy Price Index averaged 200.8 points in August, down 25.3 points (11.2 percent) over July and 46.8 points (18.9 percent) less year-on-year. Quotations for all dairy products covered in the Index fell. The decline reflected both abundant export availability and reduced import demand. Export supplies have increased in the EU and conditions are favourable for a strong start to the new season in Oceania. The prevailing tendency for prices to decline was further exacerbated by the Russian Federation prohibition, at the beginning of the month, on imports of dairy products from several countries. More generally, slackening importation of whole milk powder by China (the largest importer) has also contributed to market uncertainty concerning demand over the coming months.
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