DAIRY NEWS Global dairy price index jumped up by 3.6% first time after July 7th
Global dairy price index jumped up by 3.6% for the first time after July 7th. Last time it got surged by 8.3%. This price increased happened yesterday at the 268th fortnightly auction event at Global Dairy Trade .
Most of the dairy commodities except Lactose and Butter showed an upward trend. Interestingly Skimmed milk powder showed the highest spike in its prices of 8.4%. Current price of SMP has touched USD 2889 per MT or around Rs 216 per Kgs in Indian markets.
Anhydrous fat or ghee at USD 3910 per MT has shown an increase of around 2% . In Indian context it would be Rs 300 per Kgs . Butter on the other hand has dropped a little by 1.4 % . The new price of butter is USD 3282 per MT or around Rs 250 per Kgs.
These changes are good from Indian perspective . Indian SMP is getting more and more competitive at global level . Indian companies now may be able to clear their stocks at global markets also without much of support from the government. Also read Global dairy prices moving down and Indian dairy market showing recovery
The rates within Indian markets spiked two weeks back but still the sentiment is low at the market . It is hoped that the outset of festival season from next month, the market will see new heights in SMP and ghee prices.