Milk powder prices seen down on improved supply

M.R. Subramani Chennai, Oct.9 Global prices for skimmed milk and whole milk powder are forecast to decline 16 per cent this year on increased supply, especially from New Zealand. Prices for skimmed milk powder are expected to average $3,500 a tonne, while for whole milk powder it could average at $3,825, according to Abare, Australia’s independent government economic research agency. Quarterly report “Despite indications of slowing economic growth in some countries, world import demand for milk powders continues to grow, particularly in parts of Asia and West Asia where income growth is high and also in developed countries for use in food processing and animal feeds,” Abare said in its report for the September quarter. In the short term, moderate growth in traded milk powder supplies is expected, reflecting proportionately... [read full story]