![]() ![]() New export taxes were added on Argentina's milk in an attempt to keep the country's food prices under control. A bad drought in Australia dried up the grass that the country's cows eat. because there's only a finite amount of milk."Īgricultural economists say today's milk shortage is basically a case of low supply and high demand worldwide. "Which means whether it's liquid milk or whether it's cheese or yogurt, the price gets pulled up right across the board. ![]() "That means there's going to be that much less milk available to cover any other uses," Horseman says. Agra Informa's Chris Horseman says if a lot of producers chase the high price for milk powder, that could affect the cost of other products. But powdered milk, cheese and butter can easily be moved around the globe, and as their prices rise, analysts are watching for shifts in production. It can't be transported very well from Germany or Iowa to China, for example, where demand for dairy products is rising. The question is how long this will continue."įresh milk is still a very local product. "And by now, prices for wholesale products have also gone up. Then, suddenly, there was a butter shortage, cheese went up," Holtorf says. Hans Holtorf, who owns the German dairy manufacturer Frischli, says the powder's price was the first to increase among dairy products. But this powder is used in a wide range of foodstuffs, and its price has shot up to record levels worldwide - almost twice as high as last year. He sells his milk to a dairy processor, where it's packaged to drink or made into pudding, butter or skim-milk powder - an ingredient that is bumping up the price of dairy.įew people think of skim-milk powder when they look at the sticker price on a gallon at the supermarket. "We won't be rich, but we will do better business." It started in June, and it also looks good for next year," Hausmann says. At his farm, with 650 cows giving a total of about 8,000 liters per day, those dimes add up. cents more for each liter of milk in August than in the same month last year. Jan Hausmann, a dairy farmer near Germany's northwest coast, got about 10 U.S. "Prices are shooting up for virtually every dairy product you care to name," says Chris Horseman of Agra Informa, a company that tracks food commodities. Even for a product as local as fresh milk, the global market comes into play. Dairy prices have been rising fast not just in the U.S., but around the world. If you've been shopping for cheese or milk lately, you may have had to dig a little deeper into your wallet. A shopkeeper displays his wares at Shanghai's "New York Pizza Parlor." The shop sells around 50 large pizzas every day the increasing popularity of Western food means China's 1.3 billion residents are consuming more milk than before. ![]()
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