The FAO Dairy Price Index averaged 124.2 points in March, up by 3.5 points (2.9 percent) from February, marking the sixth consecutive monthly increase, but remaining 11.1 points (8.2 percent) below its value in the corresponding month last year, according to the latest report from the UN agency.

In March, global cheese prices rose the most, reflecting steady import demand from Asia, higher domestic sales in Western Europe, leading to the spring break, and seasonal production declines in Oceania.

Despite lower demand from Asia, international butter prices continued to rise in March, mainly due to solid seasonal demand and somewhat reduced European stocks.

On the other hand, after five consecutive months of increases, international prices of whole milk powder decreased as global import demand waned, despite seasonal production declines in Oceania.

Skimmed milk powder prices also fell as markets remained quiet, with lower spot demand.