During the first half of 2023, Skim Milk Powder (SMP) experienced a bearish trend in prices, particularly in Europe. The main cause of this price decrease was a decrease in consumption, particularly in the USA, Europe, and China, primarily due to reduced restaurant demand. Moreover, fluctuations in international dollar rates affected export sentiments for SMP.
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Definition
Skimmed milk powder (SMP) is a dairy product obtained by removing cream and water from milk, resulting in a powdered form. It has a long shelf life and is utilized as a low-fat milk replacer in various food applications, including bakery, confectionery, and dairy-based beverages, due to its versatility.
Key Details About the Skim Milk Powder (SMP) Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Skim Milk Powder (SMP) in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Skim Milk Powder (SMP) Price forecast, including India Skim Milk Powder (SMP) price, USA Skim Milk Powder (SMP) price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Skim Milk Powder (SMP) Price Trend:
Skimmed milk powder (SMP) finds key industrial uses in the food and beverage industry. It serves as a valuable milk replacer in the production of various dairy-based products, such as yogurt, ice cream, and milk drinks. SMP is also utilized as an essential ingredient in bakery goods, confectionery items, and ready-to-eat meals, providing texture, flavor, and nutritional value. Its long shelf life and ease of storage make it a convenient choice for food manufacturers worldwide.
Key Players:
- Arla Foods Amba
- Dairy Farmers of America Inc
- Nestlé SA
- Danone S.A
- Westland Milk Products
News & Recent Development:
The European Skimmed Milk Powder (SMP) market experiences strong price volatility, influenced by low demand from China and Africa. SMP prices have recently collapsed, declining within weeks, mainly due to limited buying interest domestically and internationally. European buyers are cautious, while Chinese demand is expected to remain low. Uncertainty surrounding international demand keeps SMP prices bearish, despite expectations of a slowdown in price decline. Processors are building up stocks at low price levels, hoping for better returns later.
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