Reasons to believe dairy prices could move lower in the near term
September milk production was down 0.2% from a year ago and September’s Dairy Products report shows that milk was directed to the churn. StoneX says there was more fat and protein in the milk, along with declining fluid milk sales, so the amount of solids available to turn into dairy products was up about 1.1%….
Time May be Running Out for a Milk Price Rally
There was a period two weeks ago during which milk prices looked promising heading through the month of October. However, the rally stopped abruptly with underlying cash prices turning lower. Cheese prices fell back, and butter peaked. Dry whey price moved higher, but the focus of traders was on cheese prices. Nonfat dry milk also…
Aavin hikes ghee, butter prices
Aavin, on Thursday, September 14, 2023, effected an increase in prices of ghee and butter, which are popular products from its stable. While ghee comes in 14 different packs and butter in two variants of cooking and two in the salted table kind, the maximum retail prices of all these items have been hiked. A…
Butter and milk powder mix sold as ‘milk’ to Aavin, one suspended
People who don’t have cows have been selling ‘milk’ to cooperative societies by mixing butter with milk powder, that too with the help of some insiders. In the latest instance, Aavin has suspended a driver on Chennai’s outskirts in connection with the adulteration which has been going on for at least a month. Following complaints about the quality from milk…
Global Dairy Trade Event concluded with the Price Index up 2.7%
Dairy prices have risen in the Global Dairy Trade auction for the first time in four months. The average price increased 2.7 percent to US$2888 per tonne after hitting a near five-year low at the last auction in August. The all-important whole milk powder price – which affects the payout for local farmers – rose 5.3 percent to US$2702…
Taste of Life: The ‘butter’sweet tale of Poona dairy farm
Butter needed for the coffee shops and regimental messes in the cantonment would be bought from a Parsee dairy in Bombay, before the government dairy farm was set up in Poona in 1890 The foodscape of a city is often a culmination of several events that sometimes take place in parallel or together. Butter needed…
Arguing against free markets is actually disbelieving freedom itself
I have been hearing the seminal quote by Mahatma Gandhi in Indian context that “Mass Production is production by masses” since I started my career in the dairy industry. It’s almost four decades and even today I find most of the policies are oriented towards protecting the farmers. I am unable to decipher at times…
Government may reduce gst in ghee and butter to 5%
The government may propose reducing goods and services tax (GST) on ghee and butter to 5% from the current 12%, according to government documents reviewed by Mint. The plan comes as retail milk prices have risen by 10.1% in a year and 21.9% over the past three years due to higher feed and fodder costs…
GDT price index down over 3% and butter crashed by over 10%
The Global Dairy Trade (GDT) price index has dropped by 3.3% following the latest trading event held earlier today (Tuesday, July 4). The price index now stands at 969, a level last seen in November 2020. Following the previous auction on June 20, the index remained unchanged from the preceding event on June 6, at…
Global dairy price index tumbles down again by 0.9%
Global Dairy Trade Event 333 concluded with the GDT Price Index down 0.9% on June 6th 2023. It has been second consecutive fall by almost the same magnitude of 0.9%. Apart from Cheese which is showing a strong growth no other commodities could impress with prices. Key Results AMF index up 1.8%, average price US$4,728/MT Butter index up…