World market prices for dairy products increased by 14.2 percent in August 2024, compared to August 2023. The website of the Food and Agriculture Organization of the United Nations (FAO) says.
Compared to the previous month, prices increased by 2.2 percent.
The prices reportedly increased for all types of dairy products, and most noticeably for whole milk powder, which is due to a rapid increase in import demand for spot deliveries and low stock levels in the main production regions.
An increase in world prices for butter and skim milk powder was recorded, with butter quotations reaching a historical maximum, which was facilitated by an increase in demand for products with short and long delivery times and some uncertainty regarding the adequacy of the milk supply in Western Europe.
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