Dairy Market Review - Overview of global dairy market developments in 2019
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This publication provides an update on production, trade and price movements of milk, and milk products (butter, cheese, skim milk powder and whole milk powder). It aims to provide a clear snapshot view of key changes and underlying determinants of world dairy markets. It is the only publication that covers dairy market developments in the entire world that is also updated regularly; it supports the division’s objective in providing market information relevant for policy makers, helping them in the process to take data-based policy decisions.
• Average dairy prices rebounded in 2019 following a fall in 2018.
• Skim milk powder (SMP) prices rose the most, followed by cheese and whole milk powder (WMP), but butter prices declined.
• Global milk production expanded, led by Asia, but Oceania’s output fell slightly.
• Global dairy exports (milk equivalents) expanded, albeit moderately, with sustained growth in Europe and Oceania. Across dairy products, shipments of cheese, WMP
and butter rose the most, but SMP sales declined.