Weekly milk spot prices, the price paid to producers at a specified time and place, in the Netherlands

Moreover, the recent Russian embargo (the EU-28 has lost almost €5 billion in agri-food exports to Russia in the past year) has further increased market uncertainty, at least in
the short term. European dairy prices have declined significantly since the
announcement of the embargo in August 2014, and again after the end of milk quotas,
as shown in Figures 4 and 5.