The FAO Dairy Price Index averaged 142.5 points in September, down 0.8 points (0.6%) from August, marking the third consecutive monthly decline, but remained 24.4 points (20.7%) above its value a year ago. In September, international prices of all dairy products declined moderately, to a great extent reflecting the impact of the weaker Euro against the United States dollar.
Moreover, limited market demand for medium-term deliveries due to apprehensions over market uncertainties stemming from tight milk production, high energy costs and labour shortages, especially in Europe, coupled with bleak global economic growth prospects, also weighed on international dairy price quotations. Meanwhile, demand for spot supplies remained robust, especially from Asia.
| Date | Butter | Skim Milk Powder | Whole Milk Powder | Cheddar Cheese |
| 2022-01 | 6326 | 3859 | 4243 | 3976 |
| 2022-02 | 6634 | 4097 | 4604 | 4246 |
| 2022-03 | 6923 | 4370 | 4869 | 4249 |
| 2022-04 | 7223 | 4482 | 4725 | 4251 |
| 2022-05 | 7008 | 4228 | 4388 | 4370 |
| 2022-06 | 7133 | 4261 | 4532 | 4659 |
| 2022-07 | 6793 | 3974 | 4326 | 4687 |
| 2022-08 | 6610 | 3702 | 4011 | 4756 |
| 2022-09 | 6558 | 3665 | 3987 | 4738 |
Meanwhile, recently concluded GDT also showed sharp decline in prices across all product categories, mainly driven by lower off-take from China (The biggest buyer plagued with slower economy) and rebound in milk availability across Europe & Oceania. It seems sky-high inflation is playing hard on consumer sentiments across the World and after edible oils & crude oil, other agri commodities shall fall in line.
Posts
0 Comments