Hebei Raises Reference Price for Raw Milk

Hebei decides the reference price for raw milk in Q1 2020 is 3.89 yuan/kg, 0.04 yuan/kg higher than Q4 2019.
Compared with the corresponding period of 2018 and 2019, the reference level in Q1 2020 is 0.25 and 0.12 yuan/kg higher respectively.
However compared with the same period of 2016 and 2017, the reference level in Q1 2020 is 0.15 and 0.09 yuan/kg lower respectively. It is still likely for the price to climb once the raw milk supply and demand relations tighten up.