In July, quotations for all the dairy products represented in the index rose, moving the overall value 0.7 points (0.7 percent) above the corresponding month last year and for the first time above pre-pandemic level.
Quotations for milk powders, especially whole milk powder (WMP), rose on account of strong import demand by Asian buyers with some concerns over the eventual size of export availabilities in Oceania in the 2020/21 production season.
Meanwhile, although they remained below the pre-pandemic levels, quotations for butter and cheese continued to increase, buoyed by robust import demand amid seasonally declining export supplies and steadily rising internal demand in Europe.
