Milk prices in Ukraine remain almost 20% below global levels

Raw milk prices in Ukraine remain significantly below global levels, creating conditions for further growth. According to IFCN, the global milk price indicator stood at $46.8/100 kg in August 2026, while the price in Ukraine was around $38/100 kg at the end of the month, based on milk containing 4% fat and 3.3% protein.

Thus, the Ukrainian price is about 19% below the global level. However, IFCN notes that global prices do not translate directly into farmgate prices in Ukraine. The domestic market is influenced by the supply-demand balance, processing and export opportunities, dairy imports, exchange rates and logistics.

Futures prices in major global markets are estimated at $45–52/100 kg through the end of 2026. The indicative level is $52/100 kg in New Zealand, $49/100 kg in the EU and $45/100 kg in the US. IFCN forecasts the average global milk price for 2026 at $45–47/100 kg.

In the short term, ample supplies of dairy products and accumulated stocks could limit further price growth. However, the situation could change in early 2027 due to a potential decline in milk production in Europe, Oceania and Latin America amid low margins, drought and other weather-related risks.

Feed costs remain an additional factor for the dairy sector. In August, IFCN’s global feed price indicator increased by 0.4% month-on-month to $25/100 kg. As a result, a potential increase in milk prices could be accompanied by higher production costs, limiting the benefit of higher farmgate prices for producers.

Tags: Ukraine, prices, Milk, global market, raw milk