Please note: LTO figures are calculated differently to DG-Agri figures and are therefore not comparable. LTO figures use a standard litre of 4.2% fat, 3.4% (crude) protein and somatic cell count 249,999, using a yearly production quantity of 500,000kg, to gain an average price. Whereas DG-Agri figures are averages paid in the specific country and are not comparable on a standard litre basis. Conversions from euros/100kg to ppl are based on average exchange rates for the month in question.

Latest information from DG-Agri shows that the average EU 25 milk price for April was €35.49/100kg equivalent to 27.40ppl. Average milk prices in each of the EU 25 countries have seen significant increases over the last twelve months, with prices increasing between 32% and 74% (when converted to ppl equivalent). An example of this is Portugal who have seen an increase of 74% from an average of 18.16ppl in April 2007 to an average of 31.61ppl in April 2008. The average milk price in Austria has increased by 56% from 19.79ppl to 30.88ppl in the same period, while the milk price in Cyprus has seen the smallest increase of 32% from 27.08ppl to 35.73ppl. However, it should be noted that in April 2007 Cyprus had the highest average milk price of the EU 25 countries, with 27.08ppl, this was 3.81ppl above Greece who had the second highest average milk price at 23.27ppl.

Latest pricing information from the LTO gives a April 2008 European average price of €32.80/100kg (equivalent to 25.33ppl) - an increase of €6.35/100kg (24.0%) on the previous year. However, most prices have fallen when compared to March prices, due to seasonality payments. For more information on LTO milk prices click here.

Fonterra estimate that 2007/08 milk production in Oceania up until the end of May will be 6.5% lower than the previous years production. While US milk production continues to increase by more than 2% year-on-year, despite rising feed costs, and US cheddar production has fallen 1.7% in March 2008 when compared to March 2007.

APRIL 2008	Euros/100kg	Pence per Litre(ppl)
Italy	38.66	29.86
Finland	38.82	29.98
Sweden	34.77	26.85
Portugal	40.94	31.61
Denmark	36.47	28.16
France	32.45	25.06
Netherlands	35.78	27.63
Germany	34.00	26.26
Spain	39.98	30.88
Austria	39.98	30.88
Ireland	35.52	27.43
Belgium	35.85	27.68
United Kingdom	30.49	23.55
Greece	43.80	33.82
Luxembourg	37.61	29.05
Average EU-15	37.01	28.58
Czech Rep.	35.71	27.58
Estonia	31.18	24.08
Cyprus	46.26	35.73
Latvia	28.46	21.98
Lituania	26.12	20.17
Hungary	33.48	25.85
Malta
Poland	32.43	25.04
Slovenia	32.92	25.42
Slovakia	33.87	26.16
Average EU 10	33.38	25.78
Average EU 25	35.49	27.40

Source: DG Agri-C4

Source: DG Agri-C4