Abstract: A metering device for flowable products, in particular, dairy products, has a metering cylinder, a valve cylinder coaxially arranged therein, a ring-shaped metering piston, a mouthpiece closing off the metering cylinder at the bottom side and having a coaxial cylindrical dispensing opening, and a central valve piston. The valve cylinder constitutes the central valve piston wherein the metering cylinder is arranged coaxially in an outer supply cylinder that is connected with its upper side to the product reservoir. The metering cylinder is axially movable from a lower closing position, in which it closes off the metering chamber by engaging with its end face the mouthpiece, into an upper opening position. The metering chamber communicates with the surrounding annular supply chamber in the supply cylinder via a supply opening between the end face of the metering cylinder and the mouthpiece.