Dairy Outlook is a service of FAO’s Trade and Markets Division<http://www.fao.org/economic/est/est-commodities/dairy/en/> The FAO Dairy Price Index averaged 196.2 points in April, down 7.3 points (3.6 percent) from March, registering the second consecutive month of decline and now down 18.8 points (8.8 percent) from its value in the corresponding month last year. Quotations for butter, skim milk powder (SMP) and whole milk powder (WMP) fell by over 10 percent in April, reflecting increased export availabilities and mounting inventories amid weak import demand. With milk production in the northern hemisphere normally rising at this time of the year, diminished restaurant sales and reduced demand from food manufacturers also weighed on prices. By contrast, price quotations for cheese rebounded moderately on account of limited spot supplies from Oceania, where production is seasonally declining. Tables and graphs<http://www.fao.org/economic/est/est-commodities/dairy/en/>