China’s dairy imports down in 2023: What’s the outlook for 2024?
China is an important buyer on the world dairy markets, with a strong influence on global demand that plays into price dynamics. Imports of dairy products to China continued to decline in 2023, driven by increased domestic production and weaker consumer demand. Imports of dairy products into China totalled 2.6 million tonnes in 2023, down […]
December 2023 dairy market review in Great Britain-AHDB
GB milk deliveries declined less than expected in December, falling back by 0.3%, compared to November’s 2.8% year-on-year decline. Production for the milk season to date (April to December) totals 9,272 million litres, slightly behind (-0.5%) the same point in 2022. This is currently running ahead of the latest forecast revision. Reasons for the less-than-expected decline in […]
WORLD DAIRY NEWS GDT Price Index: takes a step down at the latest event
The GDT Price Index took a step down at the latest Global Dairy Trade Event. After four consecutive sessions of growth since September the index has softened by 0.7%. The average price reported at the latest event (7 November 2023) was $3,255. This had been recovering for the previous four consecutive periods, reversing the previous […]
10% of UK dairy producers “likely to stop producing milk” by 2025
Almost 10% of UK dairy producers say they are likely to stop producing milk by 2025, with smaller producers being the most impacted by the current market, according to an NFU survey. The NFU’s 2023 Dairy Intentions Survey of almost 600 UK dairy farmers revealed that insufficient returns, volatile markets and the scale of on-farm […]
Carbon insetting vs carbon offsetting: what you should know
The UK government strategy for reaching net zero by 2050 is ever more at the forefront of discussion within the agricultural industry, particularly with the NFU setting its own targets for achieving net zero by 2040 in England and Wales. Net zero means not adding to the amount of greenhouse gas (GHGs) emitted into the atmosphere. It involves reducing […]
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 […]
AMPE and MCVE updated to reflect further cost inflation
Processing costs for dairy products were subject to further inflationary pressures in the third quarter of 2022, reducing the value of our market indicators AMPE and MCVE. These changes will be implemented in the January update (due out 27 Jan). In Q3 2022, electricity costs saw the largest quarterly increase, rising by 28% on average from the […]
Weaker dairy markets in 2023 as demand dips
High food price inflation, combined with a modest recovery in milk production, is expected to weaken dairy markets and commodity returns as we head into the new year according to the latest Rabobank quarterly report. Consumer budgets are expected to be challenged by food price inflation and rising interest rates, although the impact of this […]
Further price increases pose threat to UK meat and dairy demand – AHDB
Nine in 10 consumers have noticed the price of food increasing in supermarkets, with 62% concerned about food costs (AHDB/ Blue Marble Trust Research 2022), according to AHDB Senior Retail Insight Manager Kim Heath. This will come as no surprise as food and non-alcoholic beverage inflation hit 14.6% in September (ONS). Economics dictates that as a general […]
Dairy summary of the FAO & OECD Agricultural Outlook 2022-2031
Supply World milk production[1] is projected to grow at 1.8% p.a. over the next decade to 1,060 Mt by 2031, faster than most other main agricultural commodities. Over half of the increase in total milk production is anticipated to come from India and Pakistan, which will jointly account for over 30% of world production in 2031. […]
