FAO Dairy Price Index averaged 143.5 points in August, down 3.0 points (2.0%) from July, marking the second consecutive monthly decline, but still 27.3 points (23.5%) above its value a year ago. In August, international price quotations for butter and milk powders declined, principally due to weaker demand for spot supplies from most leading importers, as inventories remained adequate to cover their immediate needs.
Market expectations for increased supplies from New Zealand in the new production season also weighed on international prices, notwithstanding milk production tracking lower in several key producing regions, including Western Europe and the United States of America.
By contrast, world cheese prices increased for the tenth consecutive month, reflecting steady global import demand and robust internal sales, especially in European tourist destinations.
Dairy Prices:
| Date | Butter | Skim Milk Powder | Whole Milk Powder | Cheddar Cheese |
| 2022-01 | 6326 | 3859 | 4243 | 3976 |
| 2022-02 | 6634 | 4097 | 4604 | 4246 |
| 2022-03 | 6923 | 4370 | 4869 | 4249 |
| 2022-04 | 7223 | 4482 | 4725 | 4251 |
| 2022-05 | 7008 | 4228 | 4388 | 4370 |
| 2022-06 | 7133 | 4261 | 4532 | 4659 |
| 2022-07 | 6793 | 3974 | 4326 | 4687 |
| 2022-08 | 6612 | 3707 | 4018 | 4760 |
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