The FAO price index for dairy products rose by 4.6% in February
Thus, the growth of this index continues for the fourth month in a row, as a result, its value was 17.4 points (9.0 percent) higher than in the corresponding period last year.
In February, cheese prices increased by 20 points (10.6 percent), which is explained by a reduction in export supply in New Zealand due to a seasonal decline in milk production against the background of a reduction in export supply in Australia, where milk production in the 2019-2020 season was below the average level of previous periods.
At the same time, quotations of skimmed and whole milk powder declined due to a reduction in purchases from China – the largest importer of milk powder in the world – due to a slowdown in cargo handling at ports due to the spread of coronavirus, said the message of the FAO.
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