Raw Milk Price in November Continued to Climb MoM, or up 8% YoY

MOA monitoring data indicates that the raw milk price continued to move up for seven consecutive months from May to November 2019.
Milk price surged to 3.83 yuan/kg in November, or up 0.05 yuan/kg MoM, up 0.28 yuan/kg or 7.9% YoY.
From the latter half of 2013 to 2014, raw milk price shot up rapidly due to supply and demand situation in both domestic and foreign dairy raw material market, the price broke a historical record of nearly 4.3 yuan/kg. Since 2019, the growth of raw milk demand in both the world and China has been faster than the production growth, the raw milk price trend in China has been similar as that in 2013. Such insufficiency shall sustain till 2020.