Tridge summary
In October, milk powder prices increased in all global export regions, excluding South America. New Zealand's milk powder competitors from Uruguay and the EU may increase their Chinese market share due to stable prices, while Belarus experienced a decrease in catfish exports to China but a doubling of exports to Russia. Dry whey prices rose due to increased demand in the US and Asian markets, despite potential Chinese pig production issues. Ice cream exports from Russia experienced seasonal decline but grew to the US, Belarus, and Ukraine. There was a drop in China's dairy product imports in September, but a rebound is expected in October due to increasing demand for dairy products. Butter prices in Western Europe rose significantly in October, and a increase in New Zealand supplies could stabilize the Russian market. Russia's cheese imports grew by 14% in the first eight months of 2021, reducing its reliance on imports for most dairy products, except cheeses, fermented milk, and children's products. Belarus saw an increase in cheese exports to Russia in August.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Powdered milk Milk powder prices rose in October in all exporting regions of the world, with the exception of South America. Unlike the expensive COM, which is quite cheap and ‘retains the growth potential, the OCM from Oceania ($ 3,788) remains. The stable prices for SMs from New Zealand's competitors from Uruguay and the EU will allow them to increase their export volumes in the 4th quarter and gain an additional share of the Chinese market. In August, supplies of catfish from Belarus to China fell by 74% versus the previous month. At the same time, exports to Russia almost doubled, which contributed to the relative stability of prices in the Russian market. According to the estimates of these open trading floors, during October, the number of offers of the Belarusian SOM increased significantly on the Russian market. Dry whey Strong domestic demand for whey powder, milk and whey protein concentrates in the US and growing interest in Asian markets are pushing prices up. Whey is ...
Source: Oilworld
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