EU dairy prices improving on the world marketStaff Writer | August 11, 2016
EU dairy prices have improved in dollars in the last two weeks on the world market, according to the EU’s Milk Market Observatory.
Recovering prices EU exports of cheese increased
However, despite the increases on the world market, average farmgate prices decreased in May 2016 by 4% to 26.3c/kg, which is 14% lower than in May of last year. This is also 21.5% lower than the average in the last five years.
According to estimates by member states, the average milk price in June 2016 would have decreased to 25.87c/kg.
The average price of dairy products also generally improved last month, with whey powder up 11.3%.
EU exports of cheese increased to all the top 10 destinations. US is by far the biggest market for cheese exports, up on 4% from last year. Other top markets for EU cheese include Japan, Switzerland and Saudi Arabia, which increased by 43%.
China has also increased its demand, with butter up 34%, cheese up 23%, whey powder up 21%, WMP up 20% and SMP up 9%. ■