Dairy prices drop, volumes rise at auction SMP prices crashed by 4.2%
International milk prices fell while volumes rose in this month’s second Global Dairy Trade auction held by GDT Events. The GDT Price Index fell 3.6%, with an average selling price of $4,855 per tonne, in the auction held on Tuesday. The index fell 1% at the previous sale, according to GDT Events. A total of 22,179 tonnes was sold…
Profits of Saudi dairy giant Almarai climb 9% to $112m in Q1
Saudi-based dairy giant Almarai has recorded a 9-percent increase in profit for the first quarter of 2022 on the back of higher revenue. Net profit rose to SR420 million ($112 million) from SR385 million a year ago, a bourse statement revealed. Results were attributed to a hike in revenue of 23.6 percent and gross profit of 7.8 percent, even…
WORLD’S FIRST DAIRY-FREE BUTTERMILK MADE FROM GRAINS
Dairy-free buttermilk was always something home cooks made by adding acid to plant-based milk and waiting for it to curdle … until now. Dairy alternatives company Mill It created the first commercial dairy-free buttermilk, which relies on a proprietary blend of ancient grains. The company ferments these grains, which include millet and sorghum, to give…
Cow milk protein has Antiviral properties against variants of Covid-19
As the COVID-19 pandemic continues to claim lives around the world, dairy scientists may have a surprising role to play. In a new report published in the Journal of Dairy Science, scientists from the University of Michigan (Ann Arbor, MI, USA) and Glanbia PLC Research and Development (Twin Falls, ID, USA) have collaborated to investigate the…
Morrisons switches own brand milk from HDPE to ‘carbon neutral’ cartons
From mid-February, UK retailer Morrisons will move its own brand fresh milk products from HDPE bottles to ‘carbon neutral’ Tetra Pak cartons – a move it estimates will eliminate 100 tonnes of plastic per year. The new solution will not, however, be plastic-free. It is partially made from plant-based paperboard which is FSC certified, but…
EU dairy forecasts “uncertain” 2023 as milk availability is not abundant”
European dairy trading body Eucolait underscores the moral necessity of the block sharing its milk supply, albeit scarce, via free market trade at a time when societies grapple with post-pandemic headwinds, rampant inflation, supply chain shocks and the ongoing war in Ukraine. Despite the EU milk industry facing declining volumes, trade experts call for the…
Kerry study shows that consumers can pay a premium for more protein
Kerry, a private label food and beverage partner, has released a new report on the protein market. In a study of over 6,300 consumers in 12 countries, the group found that most protein consumers are motivated by health and wellness, and that consumers are willing to pay a premium for better protein content. Kerry’s recent research…
Asia-Pacific dairy market projected to grow at CAGR of 3.12% in 2020-25
The Asia-Pacific dairy market is projected to grow at a CAGR of 3.12% from 2020-2025, according to the market research firm Mordor Intelligence. China is the most significant market and India and Indonesia are the fastest-growing markets in the region, says the report Dairy farming has mostly seen an upward trend in Asia with disruptors…
Exploring the growth of plant-based milk alternatives
Plant-based milk alternatives are the largest plant-based food category in North America and grew 5% last year. In fact, the plant-based milk alternatives market now accounts for around 10% of the global “milk” market, and the growing number of consumers of plant-based milk alternatives have more choices than ever before. The most popular plant-based milk…
Exploring the growth of plant-based milk alternatives
Plant-based milk alternatives are the largest plant-based food category in North America and grew 5% last year. In fact, the plant-based milk alternatives market now accounts for around 10% of the global “milk” market, and the growing number of consumers of plant-based milk alternatives have more choices than ever before. The most popular plant-based milk…