Entire dairy value chain feeling pressure around the world
According to a new report from Rabobank, participants all along the dairy value chain are being squeezed. Producers’ milk prices have tumbled from 2022’s lofty levels while feed prices are at record highs. Processors and dairy cooperatives entered the year discounting expensive inventory made with high-priced milk. Meanwhile, higher inflation and rising interest rates are…
Global dairy price index down by 0.7%. Cheddar prices crashed
Global dairy price index went down by 0.7% at its 327th auction on March 7th 2023. The new average price is USD 3403 per MT.The total traded commodities volumes also contracted to 26747 MT. Cheddar cheese was the major casualty with its prices crashing in double digit. It has been a second consecutive drop in…
Anonymous Petitioner Challenges Perfect Day’s Patents For Whey
Perfect Day, the leading producer of precision fermentation whey, has had its US patent challenged by an anonymous petitioner. The news of the patent challenge broke yesterday. While the request has not been made public on the US Patent and Trademark Office (USPTO) website, it is now visible through the online tool PatSnap, AgFunder News…
IKEA Will Eliminate Dairy Products from Menus by 2030
According to IKEA, it serves more than 650 million customers each year across its restaurants, cafes, and bistros. Ditching dairy to be ‘people and planet positive’ The company’s new sustainability plan, called “People and Planet Positive,” is targeting carbon emissions and resource reductions across IKEA’s operations, including a focus on more plant-based food in its…
Drinking’ milk to stay key category for Australian dairy sector
The liquid ‘drinking’ milk market remains of key importance to Australia’s dairy sector – with improved domestic retail pricing and opportunities for further export growth – Rabobank says in a newly-released industry report. In Australia’s Drinking Milk Markets: from Loss Leader to Improving Performer, the specialist agribusiness bank says the liquid milk category – which…
Milk production surge continues in USA
On Wednesday afternoon, USDA released the most recent U.S. milk production report. Production continues to increase as the report stated that, “Milk production in the 24 major States during January totaled 18.5 billion pounds, up 1.5% from January 2022.” Production has now been up on a year-over-year basis for seven months in a row! The…
Fonterra cuts milk price forecast as demand from China slackens
Fonterra has reduced and narrowed its 2022/23 season forecast to $8.20 – $8.80 per kg of milksolids, with a midpoint of $8.50, due to softer demand out of China. The previous forecast was in a range of $8.50 – $9.50 per kgMS, with a midpoint of $9.00. The co-op has also cut its forecast milk…
Soy, oat, almond, others can be called milk, FDA proposes
Soy, oat, almond and other drinks that bill themselves as “milk” can keep using the name, according to draft federal rules released Wednesday. Food and Drug Administration officials issued guidance that says plant-based beverages don’t pretend to be from dairy animals – and that U.S. consumers aren’t confused by the difference. Dairy producers for years have called for the…
Dairy industry’s proposal to increase milk price by Rs 10 per liter
The dairy industry has proposed increasing the price of milk by 10 rupees per liter. According to the Nepal Dairy Association, it has proposed increasing the price of milk by 10 rupees per liter based on the production cost of milk. The proposal has been sent to the Cabinet. Every year, the National Dairy Development…
Global dairy prices goes down by 1.5%
Global Dairy Trade Event 326 concluded with the GDT Price Index down 1.5% and average price closed at USD 3414 per Metric ton. A total trade of 30693 MT of dairy commodities was carried out during this event. The price of various commodities are as follows : AMF index down 2.6%, average price US$5,447/MT Butter index up 3.8%,…