Dutch dairy giant Friesland Campina has raised its guaranteed milk price for June by 0.5c to 36.8c/litre. The farmer co-op said it was raising its farmgate milk price because it expects reference dairy companies in Europe (dairy companies which Friesland benchmarks its price against) to hold or raise June prices.
The lift in Friesland’s milk price comes as China published new data showing extraordinary growth in dairy imports for April.
The world’s most populous country imported almost 262,000t of dairy in April, which is more than 30% ahead of the same month last year.
Infant formula imports soared more than 50% to 33,270t, while milk and cream imports almost doubled to just under 80,500t.
Imports of whole milk powder (WMP) increased by almost two thirds (+64%) to 53,000t, while skimmed milk powder (SMP) imports shot up 45% to 26,000t.
For the first four months of 2019 (Jan-April), Chinese dairy imports are almost 20% ahead of the same period last year at a cumulative 1.1m tonnes.
Meanwhile, dairy prices at the GDT auction in New Zealand continue to realign with global markets.
The GDT index dropped 3.4% at this week’s auction, with prices falling for all major dairy products.
The price of WMP, the most important commodity traded on the GDT, fell almost 2% this week to $3,140/t (€2,780/t), while SMP prices declined 4% to $2,440/t (€2,160/t).
Butter prices slumped more than 10% this week to $4,805/t (€4,255/t), while cheddar prices collapsed by almost 15% to $3,950/t (€3,500/t).
Dutch dairy giant Friesland Campina has raised its guaranteed milk price for June by 0.5c to 36.8c/litre. The farmer co-op said it was raising its farmgate milk price because it expects reference dairy companies in Europe (dairy companies which Friesland benchmarks its price against) to hold or raise June prices.
The lift in Friesland’s milk price comes as China published new data showing extraordinary growth in dairy imports for April.
The world’s most populous country imported almost 262,000t of dairy in April, which is more than 30% ahead of the same month last year.
Infant formula imports soared more than 50% to 33,270t, while milk and cream imports almost doubled to just under 80,500t.
Imports of whole milk powder (WMP) increased by almost two thirds (+64%) to 53,000t, while skimmed milk powder (SMP) imports shot up 45% to 26,000t.
For the first four months of 2019 (Jan-April), Chinese dairy imports are almost 20% ahead of the same period last year at a cumulative 1.1m tonnes.
Meanwhile, dairy prices at the GDT auction in New Zealand continue to realign with global markets.
The GDT index dropped 3.4% at this week’s auction, with prices falling for all major dairy products.
The price of WMP, the most important commodity traded on the GDT, fell almost 2% this week to $3,140/t (€2,780/t), while SMP prices declined 4% to $2,440/t (€2,160/t).
Butter prices slumped more than 10% this week to $4,805/t (€4,255/t), while cheddar prices collapsed by almost 15% to $3,950/t (€3,500/t).
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