Milk/Cepea: After rising throughout 2024 in Brazil, producer prices are expected to end the year in decline

The price of milk collected in October closed at R$2.8065/liter (“Brazil Average”), a 2.6% drop compared to the previous month, but a 36.2% increase compared to October/23, in real terms (the values were deflated by the IPCA of October). And, with the progression of the harvest and the consequent seasonal increase in supply in the field, the outlook is that the year will end with the devaluation movement gaining strength. Research still in progress by Cepea indicates that the Brazil Average may fall by around 5% in November. For milk collected in December, the projection is a new decline, between 4% and 5%. Stocks recover, and prices of derivatives fall in November Research conducted by Cepea in partnership with OCB (Organization of Brazilian Cooperatives) indicates that the prices of dairy products fell in November. The biggest drop, 8.04%, was recorded for UHT milk, quoted at an average of R$4.36/liter in the São Paulo wholesale market. For mozzarella and powdered milk, the ...