Heritage Foods posts Q4 profit surges on strong demand for dairy products
India’s Heritage Foods reported a more than two-fold jump in fourth-quarter profit on Wednesday, helped by strong demand for its dairy products amid higher milk prices. The dairy producer’s consolidated net profit from continuing operations rose to ₹405 million ($4.9 million) for the quarter ended March 31, from ₹179.3 million a year earlier. Revenue from…
Plant based meat goes down and dairy moves up in USA
US retail sales of plant-based meat continued their precipitous decline in 2023, while plant-based milk made modest gains, according to a new report from nonprofit The Good Food Institute (GFI). In the 52 weeks ending December 3, 2023, US retail sales of plant-based meat & seafood dropped 12% to $1.2 billion in 2023 with units down 19%, while plant-based milk…
Green and Dry fodder Demand may reach 1,012 and 631 mil tonnes by 2050
INDIA’s achievement of transforming itself from a milk-deficient country to the world’s largest milk producer has been exemplary. With a stock of over 136 million female bovines producing about 230 million tonnes of milk in 2022-23, the Indian dairy sector exhibits strong growth potential. However, poor productivity of Indian milch cattle is a major cause…
Milk Prices may not turn volatile this summer-Mother Dairy
Milk inflation has moderated recently. The last hike in milk prices (by Mother Dairy) was announced in February 2023. As summer progresses, natural shortage starts occurring in overall milk production. However, there will be no wild swing in prices… Summer lasts till September, when some shortage of milk naturally occurs. I anticipate slight (upward) movement…
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…
China’s continued absence from dairy market weighs on milk prices
China’s continued absence from the dairy market is continuing to undermine a recovery in milk prices. Despite this, both IFA and ICMSA have warned milk processors that farmers cannot afford any further cuts to milk price and believe the market has recovered. It comes as Ornua said its returns declined again in May based of…
India’s potential dairy fat demand creates uncertainty
According to multiple market sources, India is currently running short of butter and clarified butter (ghee/anhydrous milk fat (AMF)). In a meeting last week, the Indian government announced it was considering whether to import ghee and AMF, or butter. If the government decides to come into the market, then the dairy fat market may find…
Will China continue the downtrend in dairy demand?
China plays a vital role in setting price direction on global dairy markets. During recent times, they have been buying less amid high imports in 2021 and comfortable domestic milk supplies. Farmgate milk prices have been declining in recent months in response to weaker global market prices. While milk production has improved, the reduction in…
Dairy sector might see further price hikes across India
Fast moving consumer goods (FMCG) companies kickstart their new year with high hopes of robust growth despite rising recession fears and persisting Covid like situation globally. The companies are optimistic about the urban and rural growth in 2023 and expect less price hikes, cooled off inflation and robust consumer demand. Last year, the FMCG industry faced two major challenges — subdued profit…