EU: Milk and raisins

Published 2024년 3월 1일

Tridge summary

The EU's primary processing markets are witnessing a surge in volatility due to limited supply levels, with products like butter, skimmed milk powder (SMP), and whole milk powder (WMP) experiencing price increases since February. This trend is also reflected in the rise of EU exports for these products, along with cheeses. However, the imminent production season is leading to a decrease in spot milk prices. In a similar vein, the Turkish raisin market is seeing a surge, with sultana prices hitting record highs due to a limited supply following a poor harvest.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

MILK AND DERIVATIVES In the EU, while awaiting the spring milk production peaks, the main processing markets are recording upward volatility mainly attributable to the limited level of supply. In the reference market of Kempten, since the beginning of February, butter has seen +14%, skimmed milk powder (SMP) +2.4% and whole milk powder (WMP) +0.4%. Demand shows a certain degree of rigidity and in 2023 confirmed its recovery compared to 2022. EU exports increased by 13% for SMP, 11% for WMP, 15% for butter and 3% for cheeses. The approaching production season is instead transmitting the first drops to spot milk prices. Since the end of January, in Milan, -4% for the entire foreign market, -11% for the skimmed foreign market and -9% for the entire Italian market. The premium of Italian milk over German has fallen to zero, for the first time since May 2022. RAISINS The upward trend that has characterized the Turkish raisin market since August 2023 does not stop. The price of sultana ...

Source: Agricolae