India's milk powder exports to surge on subsidies, dampen global prices

A massive milk glut in India could hit international prices for dry milk powder after government subsidies aimed at supporting local farmers look set to spur a ninefold surge in exports, industry officials told Reuters.

India's skimmed milk powder (SMP) exports are expected to rise to 100,000 tonnes in the 2018/19 fiscal year as rare government incentives spur overseas sales and make shipments from the world's biggest milk producer competitive on the global market. The rise in shipments from India could weigh on global SMP.....

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