Rollercoaster world dairy markets bounce back
Since October 2008, this measure of the world price fell from $3,000 per tonne to $2,000 in 2009, recovered to nearly $5,000 in 2011, fell to nearly $2,500 in 2012, topped $5,000 in 2014, before plummeting to under $2,000 a few months ago — bringing fears of a difficult start to Ireland’s milk expansion drive, under way since EU milk quotas were scrapped last April.
But the roller coaster has bottomed out, with Tuesday’s 9.9% rise the latest in a string of strong auctions since August, which has brought the price index to $2,834, its highest level since last March, after a 63% jump in two months.
