# Chinese dairy consumption is driving world milk prices higher

> Chinese consumers are buying more dairy products in baked goods and beverages, lifting global dairy demand. Skim milk powder prices rose 26% to 47% in the US, Europe and Oceania over the past year, and October's average reached its highest level since 2014.

- Date: 2019-11-05 · published 2019-11-05T12:00:00.000Z
- Category: trade · region Global · magnitude medium
- Page: https://feedsoft.ai/events/10246-chinese-dairy-consumption-is-driving-world-milk-prices-higher
- Commodities: [Milk (Class III)](https://feedsoft.ai/c/MILK.md)

## Why it matters

Strong Chinese import demand supports global milk powder prices and benefits exporters such as New Zealand, while the US is a minor supplier to China.

## Read by commodity

- MILK: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| MILK | 2020-01-02 | [Higher Milk Prices Are Here — Now What? - EDairy News English](https://feedsoft.ai/events/4662-higher-milk-prices-are-here-now-what-edairy-news-english.md) | -12.0% | -11.7% |
| MILK | 2018-12-31 | [Higher milk prices expected in 2019](https://feedsoft.ai/events/7672-higher-milk-prices-expected-in-2019.md) | +2.2% | +1.1% |
| MILK | 2017-03-07 | [Dairy producers buying cheese to bolster milk prices - Brownfield Ag News](https://feedsoft.ai/events/72156-dairy-producers-buying-cheese-to-bolster-milk-prices-brownfield-ag-news.md) | -1.3% | -0.5% |
| MILK | 2016-08-02 | [Milk prices lift as dairy commodity markets rally](https://feedsoft.ai/events/6034-milk-prices-lift-as-dairy-commodity-markets-rally.md) | +12.3% | +10.9% |
| MILK | 2020-05-21 | [Analysis: Dairy markets continue to trend higher despite strong production - Agriland.ie](https://feedsoft.ai/events/53136-analysis-dairy-markets-continue-to-trend-higher-despite-strong-production.md) | -0.8% | +70.2% |

## Sources

- axios.com: https://www.axios.com/2019/11/05/china-is-driving-milk-prices-higher

---
Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.