Hopes of a “white gold” rush fueled by booming Asian demand for milk and other dairy products have been dealt a blow as swollen stockpile in top consumer China and a flood of supply pummel dairy prices. Global dairy prices have fallen more than 40 percent since February , according to the Global Dairy Trade, an auction platform run by New Zealand’s Fonterra Co-operative Group. Fonterra said average prices fell 8.4 percent to a two-year low at the last two-weekly auction on Tuesday as volumes surged by almost one-third…Full Article: The Global Times Aug 2014
- In late 2013 and early 2014, China purchased an oversupply of milk powder from abroad brought on by a series of domestic food scandals, which, together with improved national output, has led to a decline in demand and prices.
- In November 2013, Chinese raw milk prices stood at CNY 3.96 (US$0.65) per kg, an increase of 18.9% from the year prior.