The FAO Dairy Price Index averaged 137.5 points in November, down 1.7 points (1.2%) from October, marking the fifth consecutive monthly decline, but remained 11.6 points (9.2%) above its value a year ago.
In November, international price quotations for skim milk powders fell the most, reflecting lower import demand, as buyers were well covered for their near-term needs coupled with increased export availabilities in Europe.
Whole milk powder prices dropped substantially, principally due to lower buying interest from China, only partially compensated by higher purchases by Southeast Asian countries.
Meanwhile, world butter prices declined on weak import demand, impacted by high retail prices and market uncertainties about consumer purchases in the months ahead.
By contrast, international cheese prices increased, underpinned by a steady import demand and less buoyant export availabilities from leading producing countries in Western Europe.
Price Movement
| 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 | 6555 | 3661 | 3982 | 4753 |
| 2022-10 | 6268 | 3464 | 3893 | 4706 |
| 2022-11 | 6152 | 3166 | 3757 | 4788 |
Overall, the decline in pricing seems to be captured as of now and we see some stability at these levels for next few months.
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