USDA's monthly supply and demand report lowered the annual all-milk price forecast while raising the Class III cheese-milk forecast, reflecting a split dairy complex. Weaker demand for fluid and export skim products offset gains in cheese and butter markets, sending the broader producer milk-price outlook lower for the year.
CRISIL Ratings expects raw milk production growth to slow to 4% due to El Niño and high fodder costs. Higher production costs will push milk prices up 4-5% this fiscal, with dairy companies passing costs to consumers.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Raw Milk | European Union | EXW | USD 479.60/MT | July 2026 |
| Raw Milk | India | EXW | USD 662.47/MT | July 2026 |
| Raw Milk | China | CIF | USD 521.79/MT | July 2026 |
| Raw Milk | Australia | CIF | USD 549.96/MT | July 2026 |
| Raw Milk | Germany | CIF | USD 479.60/MT | July 2026 |
| Raw Milk | European Union | EXW | USD 425.74/MT | June 2026 |
| Raw Milk | India | EXW | USD 652.67/MT | June 2026 |
| Raw Milk | China | CIF | USD 519.19/MT | June 2026 |
| Raw Milk | Australia | CIF | USD 547.22/MT | June 2026 |
| Raw Milk | Germany | CIF | USD 455.74/MT | June 2026 |
Stay updated with the latest Raw Milk prices, historical data, and tailored regional analysis
In the European Union, Raw Milk was assessed at around USD 426.00/MT in June, the closing month of the second quarter of 2026. European raw milk conditions weakened through H1 as adequate milk availability and subdued processor purchasing reduced producer bargaining power. The EU weighted-average producer milk price fell by about 6% between January and May, reflecting sustained supply pressure. Within China, the Raw Milk market was recorded at roughly USD 519.00/MT in June, the final month of Q2 2026. In the region, conditions were much steadier as improving feed economics reduced pressure on dairy farms and the year-on-year decline in raw milk narrowed considerably through June. Across India, prices of Raw Milk stood at approximately USD 653.00/MT during June 2026. India remained firmer due to steady dairy consumption, procurement requirements from processors and higher production and collection costs. Demand from fluid milk, cheese, butter and other dairy products provided a stable consumption base across Asia.
Analyst Insight
According to Procurement Resource, raw milk prices are expected to remain mixed, with European supply keeping prices under pressure while stable Asian dairy demand provides support.
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In the first half of 2025, raw milk prices showed a steady upward trend driven by several key factors. Across regions like the U.S., India, and Jersey, dairy processors and milk producers faced rising operational costs. These included increases in energy, packaging, freight, and labor, which were often passed down the supply chain. For farmers, the higher cost of production especially in the face of volatile market pricing created pressure for fairer compensation. This led to a rise in procurement prices from processors aiming to support farmers while balancing consumer affordability.
In the U.S., ongoing reforms in the Federal Milk Marketing Orders, including changes to "make allowances," sparked debate. With processors deducting more for production costs, farmer payouts were affected, prompting calls for greater pricing transparency. The proposed federal legislation to mandate biennial reporting of dairy processing costs reflected this push toward a more data-driven and equitable pricing model. Meanwhile, Indian and European markets like Jersey also adjusted milk rates, citing inflationary pressures and seasonal challenges such as early summer heatwaves.
Raw milk basically refers to unpasteurised milk, that is, the milk which has not been through the process of pasteurisation or homogenisation. It is a method of heating liquid foods in order to decontaminate them and kill microorganisms for safe drinking. The components of raw milk are safe for its consumption and other uses.
Cheese, Butter , Yoghurt, Ice Creams, Sweets, Custard, Cosmetics
Nestle SA, China Mengniu Dairy Company Limited , Lactalis Group, Dairy Farmers of America, DMK Deutsches Milchkontor GmbH
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Raw Milk, as secreted by mammals like cows, buffaloes and goats is free of micro-organisms. Raw milk is further processed and refined for commercial use. The milking enterprise complements other agricultural enterprises within a farming system.
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