Milk Market Situation Brussels, 20 September 2012
Apr 01, 2015
Milk Market Situation
Brussels, 20 September 2012
20 September 2012 2
!!! Data from some Member States are confidential and are NOT included in this table !!!
EU Productions
Source: MS’ communications to Eurostat
EU-27 Deliveries/Productions development(Jan - Jun 2012 compared to Jan - Jun 2011)
Total Butter+ 3.6%
Cows' Milk Collected+ 1.9%
Skimmed-milk powder+ 5.2%
Milk powder cream, Whole milk powder and partly skimmed
milk powder- 2.6%
Cheese+ 1.5%
Fermented milk- 0.9%
-9% -7% -5% -3% -1% 1% 3% 5% 7% 9% 11% 13% 15%
Ev
olu
tio
n e
n %
.
Source : MS' Communications to Eurostat
EU-27 Deliveries/Production developments(Apr-Jun 12 compared to Apr-Jun 11)
Total Butter+ 2.6%
Skimmed-milk powder+ 3.8%
Milk powder cream, Whole milk powder and partly skimmed
milk powder+ 3.0%
Cheese+ 0.9%
Fermented milk- 1.4%
Cows' Milk Collected+ 0.9%
-8% -6% -4% -2% 0% 2% 4% 6% 8% 10% 12% 14% 16%
Ev
olu
tio
n e
n %
Source : MS' Communications to Eurostat
20 September 2012 3
-12.0% to -9.0% -9.0% to -6.0% -6.0% to -3.0% -3.0% to +0.0% +0.0% to +3.0% +3.0% to +6.0% +6.0% to +9.0% +9.0% to +12.0%
-0.2
-1.2
+7.4
+4.3
-0.2
+7.7
+0.6
+1.4+2.5
+2.4
-3.6
+3.2
+10.8
+7.5
+1.0
+9.7
0
+1.2
+4.7
+9.5
+3.4
+5.5+3.4
+7.6
+0.1
+1.1
+1.5
Source : MS' Communications to Eurostat
20 September 2012 4
-12.0% to -9.0% -9.0% to -6.0% -6.0% to -3.0% -3.0% to +0.0% +0.0% to +3.0% +3.0% to +6.0% +6.0% to +9.0% +9.0% to +12.0%
-1.8
-1.3
+7.3
+2.8
-2.1
+9.1
-0.7
+2.1+2.1
+2.3
-4.8
+1.4
+10.5
+7.1
-1.0
+11.0
0
-0.5
+3.7
+9.5
+3.4
+5.5+3.4
+7.6
+0.1
+1.1
+1.5
Source : MS' Communications to Eurostat
20 September 2012 5Source: MS’ communications to Eurostat
8 500
9 000
9 500
10 000
10 500
11 000
11 500
12 000
12 500
13 000
DecNovOctSepAugJ ulJ unMayAprMarFebJ an
100
0 to
nnes
Monthly Deliveries EU 27
2009 2010 2011 2012 average 2004-2008
Source : MS' Communications to Eurostat
20 September 2012 6
1 4
92
1 3
80
1 5
41
1 5
43
1 7
13
1 6
85
1 6
79
1 6
56
1 5
36
1 4
64
1 3
43
1 4
02
1 4
04
1 2
92
1 4
77
1 5
10
1 6
51
1 6
34
1 6
32
1 6
20
1 5
34
1 4
77
1 3
55
1 4
05
1 4
38
1 3
15
1 4
92
1 4
89
1 6
44
1 6
26
1 6
74
1 6
64
1 5
81
1 5
56
1 4
52
1 5
23
1 5
57
1 4
48
1 6
13
1 6
09
1 7
78
1 7
30
9 6
62
9 0
35
10
21
0
10
35
5
10
69
6
10
05
7
9 8
42
9 4
66
8 8
69
9 1
25
8 8
16
9 3
14
9 5
28
8 9
43 10
20
7
10
31
9
10
92
0
10
28
8
10
04
9
9 7
86
9 3
63
9 5
59
9 1
46
9 4
58
9 8
35
9 1
96 10
52
5
10
67
0
11
02
1
10
33
6
10
34
1
9 9
52
9 4
58
9 5
45
9 1
99
9 7
09
9 9
80
9 5
20
10
69
5
10
66
9
11
01
4
10
28
8
23
.36
21
.55
21
.06
21
.12
20
.93
20
.52
20
.99
21
.67
22
.10
22
.89 24
.84
25
.56
26
.05
26
.39
26
.68
26
.60
26
.00
25
.87
25
.99
26
.84
28
.25
28
.82
30
.12
30
.09
30
.44
30
.77
30
.96
31
.11
30
.93
30
.45
30
.48
30
.04
29
.60
30
.14
30
.44
30
.37
30
.33
31
.16
30
.85
29
.37
27
.82
26
.99
27
.03
30
.33
29
.52
27
.33
25
.06
24
.95
25
.18
25
.51
26
.32
26
.98
27
.57
29
.03
28
.81
29
.40
28
.98
28
.32
28
.41
29
.15
30
.25
31
.33
32
.53
33
.38
33
.50
33
.81
33
.74
33
.63
33
.72
33
.67
33
.32
33
.66
34
.35
34
.84
35
.09
35
.63
35
.71
35
.90
35
.42
35
.03
34
.88
33
.93
32
.61
31
.86
31
.51
31
.58
-
2 000
4 000
6 000
8 000
10 000
12 000
14 000
16 000
18 000
20 000
22 000
24 000
26 000
28 000
0
5
10
15
20
25
30
35
Jan
09
Ma
r 09
Ma
y 09
Ju
l 09
Se
p 0
9
No
v 0
9
Jan
10
Ma
r 10
Ma
y 10
Ju
l 10
Se
p 1
0
No
v 1
0
Jan
11
Ma
r 11
Ma
y 11
Ju
l 11
Se
p 1
1
No
v 1
1
Jan
12
Ma
r 12
Ma
y 12
Ju
l 12
Pri
ces
in E
UR
/100
kg
Pro
du
ctio
ns
in 1
000
To
ns
EU 15/12 Milk Deliveries and Prices
Raw Milk Deliveries (EU-12)
Raw Milk Deliveries (EU-15)
Weighted average Milk price (EU-12)
Weighted average Milk price (EU-15)
Source : Eurostat, Reg. (EC) No 429/2010 Art. 3
20 September 2012 7Sources : MS’ communications under reg. 562/2005 & 479/2010, LTO website
20
22
24
26
28
30
32
34
36
38
40
42
44
46
48
50
Jun
01
Oct
01
Fe
b 0
2
Jun
02
Oct
02
Fe
b 0
3
Jun
03
Oct
03
Fe
b 0
4
Jun
04
Oct
04
Fe
b 0
5
Jun
05
Oct
05
Fe
b 0
6
Jun
06
Oct
06
Fe
b 0
7
Jun
07
Oct
07
Fe
b 0
8
Jun
08
Oct
08
Fe
b 0
9
Jun
09
Oct
09
Fe
b 1
0
Jun
10
Oct
10
Fe
b 1
1
Jun
11
Oct
11
Fe
b 1
2
Jun
12
EUR/100 kgMilk Prices Evolution (up to July 2012)
LTO Weighted Average Milk Price * (standardized 4.2% fat)
Weighted EU Average (real fat content)
EU Milk Equivalent Price (based on EU SMP and Butter prices)
Source :MS’ communications under reg. 562/2005 & 479/2010 + LTO : Land- en Tuinbouworganisatie Nederland
20 September 2012 8Source: MS’ communications under Reg. 479//2010
NB: The above national price averages are of mixed nature, some relate to standardised milk, others to milk with real fat and protein content, pending harmonisation under reg. 479/2010
Estimates for IT and CY
52.0
49.4
44.0 43.9
35.4 34.7
32.5 32.5 32.0 32.031.1 31.0
29.3 29.1 29.0 28.5 28.1 28.1 27.7 27.5 27.3 27.3 27.2 27.226.3
25.124.2
22.0
14
18
22
26
30
34
38
42
46
50
54
CY MT FI EL IT SE FR UK DK NL AT EU27
ES PT DE IE SI BG HU CZ PL EE LU SK BE LV RO LT
in E
UR
/10
0 k
g
EU Milk Prices(July 2012 compared to July 2011)
Milk Price 2011 Milk Price 2012
20 September 2012 9
Source: MS’ communications under Regs. 562/2005 and 479/2010
150
175
200
225
250
275
300
325
350
375
400
425
Jan
Feb
Mar
Apr
May
Jun Jul
Aug
Sep
Oct
Nov
Dec
EU
R/1
00 k
g
Monthly EU SMP Prices
2009 2010 2011 2012 I P 2009
20 September 2012 10Source: MS’ communications under reg. 479/2010
281 277 276268 265 263
243 242 238231
0
50
100
150
200
250
300
SK FR BE DE LV EU 27 UK PL IE CZ
in E
UR
/10
0 k
g
EU SMP Prices(up to 16/09/2012)
20 September 2012 11
Source: MS’ communications under Regs. 562/2005 and 479/2010
150
175
200
225
250
275
300
325
350
375
400
425
Jan
Feb
Mar
Apr
May
Jun Jul
Aug
Sep
Oct
Nov
Dec
EU
R/1
00 k
g
Monthly EU BUTTER Prices
2009 2010 20112012 I P 2009 Avg 2006-2008
388
340 339
320 318 314
298 295
266260 259
243
150
175
200
225
250
275
300
325
350
375
400
SK DE CZ NL BE EU 27 PL LV PT GB IE ES
EU
R/1
00 k
g
EU Butter Prices (up to 16.09.2012)
Butter Price of Reg. 479/2010
Butter Intervention price
20 September 2012 12
I.P. = 221.75
Source: MS’ communications under reg. 479/2010
20 September 2012 13
314.1
262.7
140
160
180
200
220
240
260
280
300
320
340
360
380
400
420
440
in E
UR/1
00 k
g
.
EU Quotations of Butter and SMP(EU average based on MS communication and weighted by production)
BUTTER SMP
Source: MS’ communications under reg. 562/2005 and 479/2010
20 September 2012 14Source: MS’ communications under Regs. 562/2005 and 479/2010
150170190210230250270290310330350370390410
Jan
Feb
Mar
Apr
May
Jun Jul
Aug
Sep
Oct
Nov
Dec
Monthly EU WMP Prices
2009 2010 2011 2012 Avg 2006-2008
20 September 2012 15
Source: MS’ communications under Regs. 562/2005 and 479/2010
180200220240260280300320340360380400420
Jan
Feb
Mar
Apr
May
Jun Jul
Aug
Sep
Oct
Nov
Dec
Monthly EU CHEDDAR Prices
2009 2010 2011 2012 Avg 2006-2008
200
220
240
260
280
300
320
340
360
380
400
420
Jan
Feb
Mar
Apr
May
Jun Jul
Aug
Sep
Oct
Nov
Dec
Monthly EU EDAM Prices
2009 2010 2011 2012 Avg 2006-2008
20 September 2012 16
Source: MS’ communications under Regs. 562/2005 and 479/2010
20
40
60
80
100
120
Jan
Feb
Mar
Apr
May
Jun Jul
Aug
Sep
Oct
Nov
Dec
Monthly EU WheyPowder Prices
2011 2009 2010 2012 Avg 2006-2008
20 September 2012 17
USD/EUR
Source: European Central Bank
1.3002
20 September 2012 18
3 100
3 860
4 060
1 000
1 500
2 000
2 500
3 000
3 500
4 000
4 500
5 000
5 500
6 000
Jun
05
Sep
05
De
c 05
Mar
06
Jun
06
Sep
06
De
c 06
Mar
07
Jun
07
Sep
07
De
c 07
Mar
08
Jun
08
Sep
08
De
c 08
Mar
09
Jun
09
Sep
09
De
c 09
Mar
10
Jun
10
Sep
10
De
c 10
Mar
11
Jun
11
Sep
11
De
c 11
Mar
12
Jun
12
Pri
ces
in U
SD
/to
nn
e
EU/US/Oceania Quotations of Butter
Avg Oceania Butter quotation
Avg EU Butter internal Price
Avg US Butter quotation
Source: MS’ communications under regs. 562/2005 and 479/2010 & USDA market news
20 September 2012 19
3 250
3 250
3 600
1 000
1 500
2 000
2 500
3 000
3 500
4 000
4 500
5 000
5 500
Jun
05
Se
p 0
5
De
c 0
5
Ma
r 0
6
Jun
06
Se
p 0
6
De
c 0
6
Ma
r 0
7
Jun
07
Se
p 0
7
De
c 0
7
Ma
r 0
8
Jun
08
Se
p 0
8
De
c 0
8
Ma
r 0
9
Jun
09
Se
p 0
9
De
c 0
9
Ma
r 1
0
Jun
10
Se
p 1
0
De
c 1
0
Ma
r 1
1
Jun
11
Se
p 1
1
De
c 1
1
Ma
r 1
2
Jun
12
Pri
ce
s i
n U
SD
/to
nn
e
EU/US/Oceania Quotations of SMP
Avg Oceania SMP quotation
Avg EU SMP internal Price
Avg US SMP quotation
Source: MS’ communications under regs. 562/2005 and 479/2010 & USDA market news
20 September 2012 20
3 150
3 550 3 550
1 000
1 500
2 000
2 500
3 000
3 500
4 000
4 500
5 000
5 500
6 000
Jun
05
Sep
05
Dec
05
Mar
06
Jun
06
Sep
06
Dec
06
Mar
07
Jun
07
Sep
07
Dec
07
Mar
08
Jun
08
Sep
08
Dec
08
Mar
09
Jun
09
Sep
09
Dec
09
Mar
10
Jun
10
Sep
10
Dec
10
Mar
11
Jun
11
Sep
11
Dec
11
Mar
12
Jun
12
Pri
ces
in U
SD
/to
nn
e
EU/US/Oceania Quotations of WMP
Avg Oceania WMP quotation
Avg EU WMP internal Price
Avg US WMP quotation
Source: MS’ communications under regs. 562/2005 and 479/2010 & USDA market news
20 September 2012 21
EU/US/Oceania Quotations of Cheddar
3 550
4 680
4 070
1 000
1 500
2 000
2 500
3 000
3 500
4 000
4 500
5 000
5 500
6 000M
ay 0
5
Aug
05
Nov
05
Feb
06
May
06
Aug
06
Nov
06
Feb
07
May
07
Aug
07
Nov
07
Feb
08
May
08
Aug
08
Nov
08
Feb
09
May
09
Aug
09
Nov
09
Feb
10
May
10
Aug
10
Nov
10
Feb
11
May
11
Aug
11
Nov
11
Feb
12
May
12
Pri
ces
in U
SD
/to
nn
e
Avg OceaniaCheddar quotation
Avg EU Cheddar internal Price
Avg US Cheddar quotation
Source: MS’ communications under regs. 562/2005 and 479/2010 & USDA market news
20 September 2012 22
56 840 60 790
141 422
159 323
11 17622 208
37 509 30 696
0
20 000
40 000
60 000
80 000
100 000
120 000
140 000
160 000
180 000
2011 2012
BUTTER Exports
EU-27 (Jan - Jul)
New Zealand (Jan-Jul )
Australia (Jan-Jul )
United States (Jan-Jul )
Source: Eurostat Comext, Global Trade Information Service
20 September 2012 23
18 89713 391
85 340
111 485
9 9416 6706 981 1 851
0
20 000
40 000
60 000
80 000
100 000
120 000
140 000
2011 2012
BUTTEROIL Exports
EU-27 (Jan - Jul)
New Zealand (Jan-Jul )
Australia (Jan-Jul )
United States (Jan-Jul )
Source: Eurostat Comext, Global Trade Information Service
20 September 2012 24
283 325
344 848
212 937 207 038
86 718 90 672
255 068273 948
0
50 000
100 000
150 000
200 000
250 000
300 000
350 000
400 000
2011 2012
SMP ExportsEU-27 (Jan - Jul)New Zealand (Jan-Jul )Australia (Jan-Jul )United States (Jan-Jul )
Source: Eurostat Comext, Global Trade Information Service
20 September 2012 25
250 639243 999
668 410
766 847
65 517 60 885
11 068 13 2460
100 000
200 000
300 000
400 000
500 000
600 000
700 000
800 000
900 000
2011 2012
WMP Exports EU-27 (Jan - Jul)
New Zealand (Jan-Jul )
Australia (Jan-Jul )
United States (Jan-Jul )
Source: Eurostat Comext, Global Trade Information Service
20 September 2012 26
376 490
426 032
82 916.99 870
53 408 49 080
136 886163 895
0
50 000
100 000
150 000
200 000
250 000
300 000
350 000
400 000
450 000
500 000
2011 2012
CHEESESExports
EU-27 (Jan - Jul)
New Zealand (Jan-Jul )
Australia (Jan-Jul )
United States (Jan-Jul )
Source: Eurostat Comext, Global Trade Information Service
20 September 2012 27
EU Exports (1/2)
0
50
100
150
200
250
2005 2006 2007 2008 2009 2010 2011
215194
164118 119 126
95
1000 Tonnes
BUTTER exports
0
2
4
6
8
10
12
14
jan feb mar apr may jun jul aug sep oct nov dec
1000 tonnesBUTTER exports
2011
2012
0
100
200
300
400
500
600
2005 2006 2007 2008 2009 2010 2011
19489
203 179231
379
518
1000 Tonnes
SMP exports
0
10
20
30
40
50
60
jan feb mar apr may jun jul aug sep oct nov dec
1000 tonnesSMP exports
2011
2012
20 September 2012 28
EU Exports (2/2)
0
100
200
300
400
500
600
700
2005 2006 2007 2008 2009 2010 2011
546 584 596 555 578676 683
1000 Tonnes
CHEESE exports
0
100
200
300
400
500
2005 2006 2007 2008 2009 2010 2011
493438
367
485 460 447390
1000 Tonnes
WMP exports
0
10
20
30
40
50
60
70
80
jan feb mar apr may jun jul aug sep oct nov dec
1000 tonnesCHEESE exports
2011
2012
0
5
10
15
20
25
30
35
40
45
50
jan feb mar apr may jun jul aug sep oct nov dec
1000 tonnesWMP exports
2011
2012
20 September 2012 29
19 497
39 934
3 220 2 442
42 182
25 886
11 363
16 082
3 546 4 261
0
5 000
10 000
15 000
20 000
25 000
30 000
35 000
40 000
45 000
50 000
2011 2012
BUTTER Imports
EU-27 (Jan - Jul)United States (Jan-Jul )Russia (Jan-Jul )China (Jan-Jul )Algeria (Jan-Jul )
20 September 2012 30
1 858 2 590
479
5 210
13 216 14 239
10 153
16 943
4 774
3 0824 565 5 268
0
2 000
4 000
6 000
8 000
10 000
12 000
14 000
16 000
18 000
20 000
2011 2012
BUTTEROIL Imports
EU-27 (Jan - Jul)United States (Jan-Jul )Mexico (Jan-Jun )China (Jan-Jul )Russia (Jan-Jul )Algeria (Jan-Jul )
20 September 2012 31
260 448
21 16214 214
72 261
117 533
90 728
63 452
89 785
123 805
15 726 18 733
0
20 000
40 000
60 000
80 000
100 000
120 000
140 000
2011 2012
SMP ImportsEU-27 (Jan - Jul)Russia (Jan-Jul )China (Jan-Jul )Algeria (Jan-Jul )Mexico (Jan-Jun )Japan (Jan-Jul )
20 September 2012 32
422 1 264
140 672
112 645
3 513 4 365
251 607240 380
20 3426 750
0
50 000
100 000
150 000
200 000
250 000
300 000
2011 2012
WMP ImportsEU-27 (Jan - Jul)
Algeria (Jan-Jul )
United States (Jan-Jul )
China (Jan-Jul )
Mexico (Jan-Jun )
20 September 2012 33
37 92446 302
161 306 165 721
117 983131 080
77 819 75 428
42 088 45 623
16 538 22 415
0
20 000
40 000
60 000
80 000
100 000
120 000
140 000
160 000
180 000
2011 2012
CHEESESImports
EU-27 (Jan - Jul)Russia (Jan-Jul )Japan (Jan-Jul )United States (Jan-Jul )Mexico (Jan-Jun )China (Jan-Jul )
20 September 2012 34
Main Dairy Importers (Butter)
Up to Nov 20100
25
50
75
100
125
2005 2006 2007 2008 2009 2010 2011
67
101
67 7550
67 66
1000 Tonnes
Russia
0
2
4
6
8
10
12
14
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1000 tonnes
Jan-Jul 2012 compared to 2011 : - 38.6%
2011
2012
0
25
50
75
100
125
2005 2006 2007 2008 2009 2010 2011
32 34 31
87
1000 Tonnes
Egypt
0
10
20
30
40
50
60
70
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1000 tonnes
Jan-May 2012 compared to 2011 : + 55.5%
20 September 2012 35
Main Dairy Importers (S.M.P.)
0
25
50
75
100
125
150
175
2005 2006 2007 2008 2009 2010 2011
155
111 121152 165 155
194
1000 Tonnes
Mexico
0
5
10
15
20
25
30
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1000 tonnes
Jan-Jun 2012 compared to 2011 : + 38%
2011
2012
0
25
50
75
100
125
150
175
2005 2006 2007 2008 2009 2010 2011
8468
91 105 93 98129
1000 Tonnes
Algeria
0
5
10
15
20
25
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1000 tonnes
Jan-Jul 2012 compared to 2011 : - 30%
2011
2012
20 September 2012 36
Main Dairy Importers (W.M.P.)
0
50
100
150
200
250
300
350
2005 2006 2007 2008 2009 2010 2011
64 73 58 46
177
326 320
1000 Tonnes
China
0
10
20
30
40
50
60
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1000 tonnesJan-Jul 2012 compared to 2011 : - 4%
2011
2010
2012
0
50
100
150
200
250
300
350
2005 2006 2007 2008 2009 2010 2011
167 182 160 153200
167204
1000 Tonnes
Algeria
0
10
20
30
40
50
60
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1000 tonnes
Jan-Mar 2012 compared to 2011 : - 24%
20112012
20 September 2012 37
Main Dairy Importers (Cheese – 1/2)
0
50
100
150
200
250
2005 2006 2007 2008 2009 2010 2011
260218 234 248 229
294 296
1000 Tonnes
Russia
0
5
10
15
20
25
30
35
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1000 tonnes
Jan-Jul 2012 compared to 2011 : + 3%
20112012
0
50
100
150
200
250
2005 2006 2007 2008 2009 2010 2011
212 207 225187 184 199 215
1000 Tonnes
Japan
0
5
10
15
20
25
30
35
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1000 tonnes
Jan-Jul 2012 compared to 2011 : + 11%
20112012
20 September 2012 38
Main Dairy Importers (Cheese – 2/2)
0
50
100
150
200
250
2005 2006 2007 2008 2009 2010 2011
79 79 86 68 73 80 78
1000 Tonnes
Mexico
0
50
100
150
200
250
2005 2006 2007 2008 2009 2010 2011
211 205 200171 162
138 143
1000 Tonnes
United States
0
5
10
15
20
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1000 tonnes
Jan-Jun 2012 compared to 2011 : + 8%
20112012
0
5
10
15
20
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
1000 tonnes
Jan-Jul 2012 compared to 2011 : - 3%
2011
2012
20 September 2012 39
6 600
6 800
7 000
7 200
7 400
7 600
7 800
8 000
8 200
Jan
Fe
b
Ma
r
Apr
Ma
y
Jun
Jul
Aug
Sep Oct
Nov
Dec
in t
on
ne
s
.
Adjusted U.S. milk production (months of constant length)
2008 2009 2010 2011 2012
Source:USDA
Jan-Jul 2012 compared to 2011 : + 3.2% (real monthly production)
20 September 2012 40
Source: Dairy Australia
500
600
700
800
900
1 000
1 100
1 200
Jul
Au
g
Sep Oc
t
No
v
Dec
Jan
Fe
b
Ma
r
Ap
r
Ma
y
Jun
in t
on
ne
s
.
Jul 2012/13 compared to 2011/12 : + 3.5%
Australian milk production
2009/10 2010/11 2011/12 2012/13
20 September 2012 41Source: DCANZ - Fonterra
0
500
1 000
1 500
2 000
2 500
3 000
3 500
Jun
Jul
Au
g
Sep Oc
t
No
v
Dec
Jan
Fe
b
Ma
r
Ap
r
Ma
y
in t
on
ne
s
.
Jun 2012/2013 compared to 2011/12 : + 3.1%
NZ milk production
2008/09 2009/10 2010/11 2011/12 2012/2013
20 September 2012 42
Source: DCANZ - Fonterra
Monthly indicator of Argentina Milk Production
300.0
350.0
400.0
450.0
500.0
550.0
600.0
650.0
700.0
750.0
800.0
Jan
Feb
Mar
Apr
May Ju
n
Jul
Aug
Sep Oct
Nov
Dec
in t
ho
usa
nd
to
nn
es
.
2008 2009 2010 2011 2012
Source:Alimentos argentinosBased on an enquiry covering 65 % of total production
Jan-Jun 2012 compared to 2011 : + 8.5% (real monthly production)
20 September 2012 43
Prices
in US$/t Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13
Weighted average
price % change Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 ######
AMF n.a. 3 072 3 197 3 232 3 285 3 850 n.a. n.a. 3 199 - 9.4% - 9.9% - 8.2% - 10.4% - 9.2% - 7.9%
BMP n.a. 2 970 3 125 3 070 n.a. n.a. n.a. n.a. 3 029 - 2.0% - 3.3% - 0.6% - 0.5%
Cheeses n.a. 3 795 3 411 3 757 n.a. n.a. n.a. n.a. 3 589 - 0.1% + 2.8% - 3.4% + 3.8%
MPC70 n.a. 5 885 6 000 6 055 n.a. n.a. n.a. n.a. 5 953 - 3.6% - 4.4% - 2.7% - 2.7%
Rennet Casein n.a. 8 078 8 210 8 210 n.a. n.a. n.a. n.a. 8 145 + 4.1% + 3.1% + 5.9% + 4.3%
Lactose n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a.
SMP 3 500 3 302 3 340 3 361 3 415 n.a. n.a. n.a. 3 339 + 4.0% - 4.6% + 4.7% + 3.7% + 2.6% + 7.0%
WMP 2 930 3 081 2 992 3 031 3 020 3 057 n.a. n.a. 3 036 + 1.9% + 0.4% + 3.5% + 0.2% + 1.3% + 0.1% - 0.3%
18.09.2012 1 € = 1.2336 $ (ECB rate)
in €/t Oct-12 Nov-12 Dec-12 Jan-13 Feb-13 Mar-13 Apr-13 May-13
Weighted average
price
AMF 2 490 2 592 2 620 2 663 3 121 #VALUE! #VALUE! 2 593BMP 2 489 2 549 2 501 2 505Cheese 3 076 2 765 3 045 #VALUE! #VALUE! #VALUE! #VALUE! 2 909MPC70 4 771 4 864 4 908 #VALUE! #VALUE! #VALUE! #VALUE! 4 826Rennet Casein 6 548 6 655 6 655 #VALUE! #VALUE! #VALUE! #VALUE! 6 603Lactose 6 343SMP 2 837 2 676 2 707 2 725 2 768 #VALUE! #VALUE! #VALUE! 2 707WMP 2 375 2 498 2 426 2 457 2 448 2 478 #VALUE! #VALUE! 2 461
Source : http://www.globaldairytrade.info/
% change by contract from previous auction
Results of the Fonterra Auction of 18.09.2012