Safe Milk Labs

Global dairy Price index almost unchanged

April 16, 2024
8:44 pm
GMT+5:30
Updated 2 weeks ago

Global Dairy Trade Event 354 concluded with the GDT Price Index up 0.1% with average global price index touching USD 3590/MT.

Key Results remains as follows :

AMF index up 1.7%, average price US$7,062/MT (Rs 580/Kgs)
Butter index down 1.4%, average price US$6,546/MT (Rs 535/Kgs/MT)
BMP index not available, average price not available
Ched index down 8.5%, average price US$3,974/MT (Rs 326/Kgs)
LAC index down 1.3%, average price US$740/MT (Rs 61/Kgs)
MOZZ index down 3.8%, average price US$3,755/MT (Rs 308/Kgs)
SMP index unchanged, average price US$2,541/MT (Rs 208/Kgs)
WMP index up 0.4%, average price US$3,269/MT (Rs 268/Kgs)

Looking at Indian prices then the Indian domestic prices are around 20% lower for AMF or ghee and 30% lower for Butter. SMP prices in India markets are higher from 7% to 30% as compared to global prices. Recently there has been an uptick in the prices of SMP, Butter and Ghee in Indian domestic markets. Ghee prices have gone up by Rs 50 per kgs in last two weeks from Rs 6500 to Rs 7300 for 15 Kgs tins. SMP prices have also moved up by Rs 30-40 per kgs in all range of powders.

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Indian market scenario

This increase in domestic markets could be attributed to Eid, Hindu’s new year, Navratras and finally Ram Navami. The last lag of marriages in north India is also responsible for this increase.

Indian exported around Rs 50 Crores or USD 6 Millions worth of Powders and cheese and around Rs 230 crores or USD 29 Million worth of Butter fat in March which is the last month of financial year FY24.

The global situation is not very promising in near future from the prices of SMP and WMP perspective. However weather forecast of heat wave in India till June and above normal monsoon from July onwards can be seen as a good news from both consumption of existing huge stocks of dairy commodities till June and promising milk production later . July – August will be the period under watch where in both at domestic levels and global levels the commodities prices may show some fireworks.