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FAO Dairy Price Index - August 2023

The FAO Dairy Price Index averaged 111.3 points in August, down 4.6 points (4.0%) from July, marking the eighth consecutive monthly decline, and as much as 32.1 points (22.4 %) below its corresponding value last year. 

In August, international prices across all dairy products declined, with whole milk powder prices falling the most, influenced by abundant supplies especially from Oceania amid seasonally rising production, together with a slowdown in the pace of imports by China, although import volumes remained relatively high. 

Skim milk powder prices fell to their lowest level since mid-2020 due to subdued import demand and the lacklustre market activities associated with the summer holidays in Europe. 

Moreover, international butter and cheese prices dropped, reflecting similar factors coupled with steady production schedules in Oceania.

FAO Dairy Price Index-Sep23

Date Butter Skim Milk Powder Whole Milk Powder Cheddar Cheese
2023-01 5290 2915 3507 4986
2023-02 4968 2781 3424 4809
2023-03 5021 2737 3410 4652
2023-04 5019 2672 3281 4455
2023-05 5058 2731 3423 4057
2023-06 5167 2740 3402 3969
2023-07 5062 2607 3418 3985
2023-08 4838 2468 3096 3919

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