 |
Global dairy prices soar 16.9%
06.09.2010 13:41 "Agro Perspectiva" (Kyiv) —
Concerns global milk production could be hit by a low European grain harvest helped send dairy prices soaring 16.9% at Fonterra’s globalDairyTrade internet auction on Wednesday.
The rise follows four months of price declines, and observers say it will go some way to ensure Fonterra meets its forecast payout of $6.90 to $7.10 a kg of milk solids for the coming season.
Fonterra last month warned that payout was under review.
It also provides evidence that tight feed grain supplies and rising costs are starting to affect milk prices, with the average price for dairy commodities and overall supply contracts lifting sharply yesterday.
Russia recently announced that drought had forced it to stop exporting grain, and it followed that up last week with news that winter grain crops had been sown on only half the area planted a year ago, again due to drought.
BNZ economist Doug Steel said while it was difficult to identify what drove the globalDairyTrade price increases, the effect of drought was an obvious concern for milk powder buyers.
Fonterra’s globalDairyTrade manager Paul Grave agreed, but said global prices had also recently started to firm in Asia and the United States due to tightening powder supplies.
Much of Europe’s milk production came from grain-fed cows and the United Nations Food and Agriculture Organisation (FAO) said this week that rising wheat prices caused by the Russian drought last month pushed up international food prices by 5%.
Despite the Russian drought, the FAO estimated a global cereal production of 2238 million tonnes this year, the third-highest on record and above the five-year average.
Mr Steel said the 16.9% lift in dairy prices showed the market’s volatility, but it was a positive sign that underlying demand had driven up prices for all products and across all delivery contracts.
«I’d describe it at the moment as keeping the dream alive.»
While it was only one auction, Mr Steel said it did remove some of the risk which had prompted Fonterra to warn its forecast milk price was under review.
Also helping support the original payout forecast was an easing in the exchange rate from close to US74c when Fonterra announced the review to a tighter trading range since then of around US71cWhole milk powder led yesterday’s market rise, lifting 18.8% on last month to $NZ4960 a tonne, followed by skim milk powder, which lifted 15.8% to $4500, and anhydrous milk fat, which rose 9.5% to $6600.
21.01.2025 |
|
 |
|
|
 |
21:45 |
A groundbreaking new study, “Governance and resilience as entry points for transforming food systems in the countdown to 2030”. Key Findings |
|
21:37 |
Nitrogen use efficiency must be improved to reduce harm to human and environmental health |
11.01.2025 |
|
|
|
|
|
11:16 |
Russia Grain Export Quota to Curb Wheat Exports in 2025 |
|
09:12 |
Iraq Emerges as a Soybean Importer |
08.01.2025 |
|
|
|
|
|
22:13 |
FAO Food Price Index dips during the month of December |
|
18:49 |
FAO calls for urgent action to address widening famine in Sudan |
22.12.2024 |
|
|
|
|
|
05:26 |
FAO transfers 185 generators, 6,474 grain hoses to Ukrainian farmers in 2024 |
|
03:53 |
The EU agri-food trade surplus increased by 15% in September 2024, reaching EUR 6 billion |
19.12.2024 |
|
|
|
|
|
09:05 |
World coffee production for 2024/25 is forecast 6.9 million bags higher |
18.12.2024 |
|
|
|
|
|
23:11 |
China’s Expanding Coffee Consumption |
17.12.2024 |
|
|
|
|
|
22:37 |
Bangladesh Soybean Import Recovery Expected to Continue |
14.12.2024 |
|
|
|
|
|
21:03 |
World apple production for 2024/25 is forecast to fall nearly 350,000 tons to 84.0 million |
13.12.2024 |
|
|
|
|
|
09:11 |
U.S. Fresh Pear Exports Fall on Historically Low Harvest |
10.12.2024 |
|
|
|
|
|
21:03 |
Indonesia Grain Imports to Subside after 2023/24 Record |
|
08:14 |
Higher vegetable oil quotations drive up FAO Food Price Index, but lower cereal and sugar prices temper the rise |
|
07:45 |
Cereal trade revised downwards amid weaker demand |
02.12.2024 |
|
|
|
|
|
23:17 |
Prime Minister: Some 50 partner countries have joined the humanitarian demining coalition |
|
22:56 |
Norway pledges additional $4.5 mln to Ukraine's Grain from Ukraine initiative |
01.12.2024 |
|
|
|
|
|
03:30 |
EU agri-food trade slowed down in August 2024 |
26.11.2024 |
|
|
|
|
|
00:06 |
Global sugar production, compared to last year, is estimated up 2.8 million tons to 186.6 million |
24.11.2024 |
|
|
|
|
|
04:43 |
During the Operation of Our Grain From Ukraine Program, We Have Managed to Save 20 Million People from Hunger – Zelenskyy |
|
04:15 |
Ukraine Is Ready to Share Technologies, Military Experiences and Processing Methods with African Countries – the President |
22.11.2024 |
|
|
|
|
|
10:15 |
South Africa Sugar Production and Exports Estimated Down |
19.11.2024 |
|
|
|
|
|
23:04 |
Global Olive Oil Production Forecast to Rebound in 2024/25 |
|
22:47 |
Vitalii Koval discusses Ukraine's European integration with European colleagues |
|
16:06 |
EBRD, European Union and United States help Kyiv prepare for winter |
18.11.2024 |
|
|
|
|
|
09:21 |
Agriculture Development Strategy 2030 – a roadmap to the EU |
|
09:19 |
Ukrainian farmers have sown 96% of projected winter crop area |
01.11.2024 |
|
|
|
|
|
20:31 |
Ukraine has officially joined the International Fund for Agricultural Development |
|
20:29 |
Ukrainian farmers harvested 63.7 million tonnes of grains and oilseeds |
25.10.2024 |
|
|
|
|
|
22:50 |
Agriculture hit hard: October port strikes rack up 30-40 million dollars in losses |
|
21:04 |
Ministry of Agrarian Policy expects exports to rise in dollar terms |
|
10:57 |
Ukrainian corn seed flows to Europe in further farm trade shift |
24.10.2024 |
|
|
|
|
|
23:02 |
Tree Nut Import Markets Highly Concentrated |
23.10.2024 |
|
|
|
|
|
11:18 |
Prime Minister UK warns Russian threat to global stability is accelerating as Putin ramps up attacks on Black Sea |
15.10.2024 |
|
|
|
|
|
09:35 |
Brazil Continues to Dominate Growth in Global Chicken Meat Exports in 2025 |
11.10.2024 |
|
|
|
|
|
23:33 |
China Cottonseed Imports Show Strong Demand in Recent Years |
|
20:30 |
India Removes Rice Export Ban, Spurring Additional Trade |
30.09.2024 |
|
|
|
|
|
17:27 |
List of agricultural machinery with cost compensation expanded to 11,300 items |
29.09.2024 |
|
|
|
|
|
20:21 |
1 in 11 people worldwide faced hunger in 2023, 1 in 5 in Africa If current trends continue, about 582 million people will be chronically undernourished in 2030, half of them in Africa |
|
17:13 |
EU agri-food surplus increased in the first half of 2024 |
27.09.2024 |
|
|
|
|
|
09:02 |
BASF presents new corporate strategy: BASF is setting a new direction for portfolio steering, capital allocation and performance culture |
26.09.2024 |
|
|
|
|
|
10:25 |
BASF sets new direction with corporate strategy and maintains high level of shareholder distributions |
21.09.2024 |
|
|
|
|
|
18:30 |
Three new sites recognized as Globally Important Agricultural Heritage Systems (GIAHS) |
17.09.2024 |
|
|
|
|
|
09:52 |
Cargill and Ducks Unlimited Working Together to Restore Watersheds Across North America |
|
08:44 |
FAO calls for G20 cooperation as hunger targets continue to elude |
|
06:40 |
FAO sees open trade as a cornerstone of global food security |
13.09.2024 |
|
|
|
|
|
07:08 |
U.S. Soybean Meal Hits 10‐Year High for Export Sales |
12.09.2024 |
|
|
|
|
|
21:26 |
U.S. Corn Exports Buoyed by Large Supplies |
11.09.2024 |
|
|
|
|
|
04:30 |
Global cereal production 2024 forecast on par with 2023 output, cereal trade likely to contract |
Also available: 
|
| |
|
|
