The FAO Dairy Price Index - July 2014
The FAO Dairy Price Index averaged 226.1 points in July, down 10.3 points (4.4 percent) over June and 17.5 points (7.2 percent) less year-on-year. Prices continue to fall reflecting both, reduced import demand and abundant export availability. Following strong production growth this year, export supplies have increased in the EU, while the outlook is for a favourable start to the new season in Oceania. As for imports, purchases of butter by Islamic countries declined during Ramadan, as did those by the Russian Federation. For whole milk powder, limited purchases by China, the largest importer, contributed to a price drop. Quotations for cheese and skimmed milk powder also moved lower.
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