Milk and Milk Products Price and Trade Update: April 2014
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Internationally, dairy product prices fell sharply in April, following indications of market weakness in March. Consequently, they have returned to a level similar to early 2013. Demand for all dairy products has been affected by reduced purchases by China (the main importer of whole milk powder and second largest importer of skimmed milk powder) and a fall in demand from the Russian Federation (the main importer of butter). Additionally, a strong opening to the milk production season in the Northern Hemisphere and an unusually extended season in New Zealand have contributed to the situation, as availability of products for export has risen.