Global dairy price index down by 0.7%. Cheddar prices crashed

Global dairy price index went down by 0.7% at its 327th auction on March 7th 2023. The new average price is USD 3403 per MT.The total traded commodities volumes also contracted to 26747 MT. Cheddar cheese was the major casualty with its prices crashing in double digit.

It has been a second consecutive drop in milk prices in last one month. The prices of various dairy commodities have changed as follows :

Key Results

AMF index down 1.8%, average price US$5,340/MT Butter index down 0.3%, average price US$4,899/MT BMP index down 4.5%, average price US$2,521/MT Ched index down 10.2%, average price US$4,509/MT LAC index up 0.3%, average price US$1,112/MT SMP index down 1.1%, average price US$2,739/MT SWP not offered WMP index up 0.2%, average price US$3,277/MT

The landed cost of SMP and Butter in India without duty are at Rs 240 per kgs and Rs 420 per kgs respectively.