Export prospects brighten for dairy products
January 26, 2021
Rising price trend in international market for butter, fat to benefit farmers here A recent surge in the prices of dairy products in the international market has brightened export prospects for India especially for skimmed milk powder (SMP), fat and butter.
The prices have surged to a year-high levels on the Global Dairy Trade (GDT) auctions - primarily driven by the consumption push post Covid-19 unlock measures in several countries and weakening of the US dollar.
On Tuesday, SMP prices on the GDT fortnightly auctions quoted at $3,243 a tonne which is 37 per cent up from $2,373 a tonne reported about seven months ago. When converted to Indian rupee, prices were at ₹235-236 a kg now as against ₹173-174 a kg in July.