Global Dairy Trade auction slump continues
The overall price fall of 1.3% continued a slump of more than 50% since early 2014, due to world-wide overproduction, subdued demand from important markets such as China, and Russia’s ban on US and European food imports.
The auction wasn’t all bad news, with prices falling only 0.2% for skim milk powder and 0.1% for whole milk powder — described by some analysts as “turning a corner”, after three months of plunging prices.
