News
Maxum Foods reports on dairy market
6 Dec 2019According to the Maxum Foods Global Dairy Commodity Update for December, the fundamentals underpinning the global market outlook remain positive but may weaken with improving expansion in milk supply and a slowing in trade in milk powders.
However, the company says, the outlook for commodity product values is mixed as butterfat values have stabilised, while increased cheese capacity in Europe will keep supplies abundant and may cap values.
SKIM MILK POWDER
SMP fundamentals recently improved with lower EU and US output and sustained export demand. Going forward, this is new territory with SMP fundamentals no longer driven mostly by the EU stock turn. Prices should remain relatively firm, despite improving fresh product availability from Europe and the US. SMP demand in Asian markets has slowed but is likely to revert to trend.
WHOLE MILK POWDER
China and Hong Kong helped the overall numbers look better and added the most trade in the month – up 69.4% YOY or 14,000t. YOY shipments to this key market have now increased in 11 of the last 12months for which data is available. Demand for milk powders remained resilient with the changes in China’s internal milk use.
CHEESE
The wide disparity in cheese prices should correct. EU commodity cheese values may be influenced by SMP/butter stream returns, but more milk will be diverted to increased plant capacity, which will keep a lid on values. EU exports again rose more than 8,000t YOY in September –the growth in the latest month was driven by stronger shipments to the Untied States but also South Korea.
BUTTER
Butterfat prices have remained steady with improved domestic EU seasonal demand. The EU balance sheet should improve but demand and supply growth will be closely aligned. Overall demand in developing markets remains price sensitive and may continue to pressure NZ prices. NZ exports of fats continued to shrink, but at a much slower rate –both AMF and butter were down YOY in September, 2% and 7% respectively. Meanwhile, the EU expanded butter exports in September by 74%, despite shipping butter at prices still higher than NZ.
WHEY
US exports continued to shrink, down 13% in September, while the EU grew shipments by 3.2%. Meanwhile, NZ trade rose 14% YOY in September – this followed three consecutive monthly falls and was driven by stronger sales into the North America market. US product remains competitive as prices have weakened since September while EU and Oceania prices remained steady.
Related news
UK High Court allows Oatly to use 'milk' on packaging
17 Jan 2024
Oatly has scored a landmark victory in the use of the word milk after the UK High Court ruled against the country’s dairy industry and permitted the term to be used on packaging.
Read moreHow brands are overcoming challenges in the plant-based sector
16 Jan 2024
Following the turbulent evolution of the plant-based market in recent years, industry players are finding innovative ways to tackle challenges such as taste, price, and nutrition and are in turn unlocking new opportunities for growth.
Read moreMapping the rise and fall and (rise, again?) of the plant-based sector
15 Jan 2024
Recent challenges in the plant-based sector such as consumer acceptance and price inflation led to dips in certain regions while others surged. Kalina Doykova, senior research analyst at Euromonitor, shares her insights into the evolution and future tr...
Read moreMeet the innovative ingredients showcased at Fi Europe’s New Product Zone
3 Jan 2024
The Food Ingredients category at Fi Europe’s New Product Zone featured 19 distinct and innovative products. From fermented delights to sustainable proteins, these ingredients are ready to make their mark in the market.
Read moreFi Europe’s New Product Zone elevates the nutrition of everyday indulgences
22 Dec 2023
At Fi Europe 2023's New Product Zone, eight health ingredients, each offering an enhanced nutritional profile of various products, were on display. These ingredients address the evolving needs of the food and beverage industry and cater to consumers se...
Read moreFi Europe’s New Product Zone explores fresh possibilities with five natural ingredients
20 Dec 2023
Fi Europe 2023's New Product Zone unveils five natural ingredients, each catering to the growing demand for clean products and embodying ethical and sustainable choices for today's conscious consumers.
Read moreExploring the path to replicating breast milk's magic in infant formula
17 Nov 2023
While breast milk is often hailed as nature's gold standard for infant nutrition, it’s not always readily available. Enter infant formula enriched with human milk oligosaccharides (HMOs), a game-changing product that seek to mirror the composition of b...
Read moreA look at the latest ‘gut health for immunity’ product launches
25 Oct 2023
From Lipton’s probiotic tea to Babybel’s snack-sized cheeses and smoothie powders, we look at some recent product launches that can benefit immune health by targeting the gut microbiome and a healthier digestive system.
Read moreAdvocacy groups condemn EU Commission for backpedalling on animal rights
3 Oct 2023
Amid rumours that the EU may abandon its plans to improve animal welfare in farming and end the use of cages, many stakeholders have condemned this possibility and urged the EU to reconsider.
Read moreMeurens Natural: Pioneering the Way in Oat-Based Nutrition
12 Sep 2023
Meurens Natural, a European trailblazer in the organic sector for more than 30 years and expert in hydrolyzed oat syrups, powders, and proteins.
Read more