Commodities
Milk Powder Price Sinks to Three-Year Low as Dairy Demand Wanes
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Whole milk powder auction prices have slumped to a three-year low amid signs that demand for dairy products is waning.
The average price for whole milk powder fell to $2,864 a ton at the GlobalDairyTrade auction overnight, the lowest since June 2020. The weighted index for whole milk powder dropped 8% from the previous auction, while the index for all dairy products declined 4.3%.