In November 2024, global prices for dairy products increased by 0.6 percent compared to October and by 20.1 percent compared to November 2023. The Food and Agriculture Organization (FAO) of the United Nations reports.
According to FAO, the cost of whole milk powder increased the most. This was due to a recovery in demand worldwide and a seasonal decline in milk production in Western European countries, which negated the seasonal increase in milk production in the states of Oceania.
«World butter prices are growing for the 14th consecutive month, reaching a new record amid strong demand in domestic and global markets with limited stocks, especially in Western Europe. The cost of cheese has also risen due to limited supply unable to meet growing demand on the spot market,» FAO notes.
