The conventional milk profitability index has been rising for the fifth month in a row. But the indicator since the beginning of 2021 remains the worst in recent years.
This was told by Andriy Yarmak, an economist of the investment department of the UN Food and Agriculture Organization (FAO), reports ProAgro Group.
He noted that the index rose by 2.7% in October after about the same increase in September. During the last 5 months, it has already grown by 24.9%.
Profits in October 2021 were higher for the second time (immediately by 10%) than the same month in 2020, but that’s not because everything is so good now, but because last year at this time profits were plummeting. In other words, it was the second worst return in October in the last 5 years.
“The first 10 months of 2021 allowed our dairy farmers to earn 20.2% less than they did a year ago for the same period. And so far, it’s the worst year in five years. Profits were worse only in 2016,” Yarmak added.
