Dairy Outlook is a service of FAO’s Trade and Markets Division<http://www.fao.org/economic/est/est-commodities/dairy/en/>



The FAO Food Price Index (FFPI) has been revised rebasing it from the period 2002-2004 to 2014-2016. European Union (EU) cheddar prices have been added to the cheese subcomponent starting 2008; butter, SMP and WMP subcomponents were redefined to include European Commission-reported EU prices, starting from 2008.

A feature article<http://www.fao.org/3/ca9509en/ca9509en.pdf#page=78> published in the June 2020 edition of the Food Outlook presents the revision of the base period for the calculation of the FFPI and the expansion of its price coverage.

A November 2013 article<http://www.fao.org/fileadmin/templates/worldfood/Reports_and_docs/FO-Expanded-SF.pdf> contains technical background on the previous construction of the FFPI.



The FAO Dairy Price Index averaged 98.2 points in June, up 3.8 points (4.0 percent) from May. June marked the first increase in the value of the Index after four months of consecutive declines, even though the Index remained 4.6 percent below its level in the corresponding month of 2019. Price quotations for all the dairy products represented in the Index rose, but not to the pre-pandemic levels. Renewed import demand for spot supplies, especially from the Middle East and East Asia, coupled with seasonally declining supplies in Europe and limited availability of uncommitted supplies in Oceania, underpinned the recent price increases.



Tables and graphs<http://www.fao.org/economic/est/est-commodities/dairy/en/>