Global dairy price index tumbles down again by 0.9%
Global Dairy Trade Event 333 concluded with the GDT Price Index down 0.9% on June 6th 2023. It has been second consecutive fall by almost the same magnitude of 0.9%. Apart from Cheese which is showing a strong growth no other commodities could impress with prices.
Key Results
AMF index up 1.8%, average price US$4,728/MT Butter index up 0.5%, average price US$5,088/MT BMP index down 2.4%, average price US$2,322/MT Ched index up 7.4%, average price US$4,668/MT SMP index unchanged, average price US$2,755/MT WMP index down 3.0%, average price US$3,173/MTA price decline in WMP is somewhere indicating lower Chinese demand as well as from south eastern countries.
In Indian terms the SMP, Butter and AMF (ghee) prices are Rs 240, Rs 440 and Rs 400 respectively. SMP prices may pull the Indian SMP prices also a bit lower. Currently in certain states the SMP is not gaining demand even at Rs 20-270 per kgs. Butter is also stuck anywhere from Rs 355-Rs 390.