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Dairy
Whole milk powder
16WMP EU - EU/MT
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
2,500
2,600
2,700
2,800
2,900
3,000
3,100
3,200
J118 - WMP mp EU
The WMP market remains bullish. EU WMP production was down 8.2% and exports grew by 0.5% in Q1 2021, y-oy
. The high milk production cost in China is boosting imports of WMP from the EU, pushing up prices. These
purchases are likely to continue through Q3 2021, supporting prices. The May average price of EU WMP was
recorded at EUR 3,205/MT, up 21% y-o-y and 1.5% m-o-m.
High milk prices in China are pushing up WMP prices globally. China imported 323,000 tonnes of WMP in Q1 2021,
up 21% y-o-y. New Zealand was the main supplier, representing 92.5% of total Chinese WMP imports. The May
average price of New Zealand WMP stood at NZD 5,777.2/MT, up 21.3% y-o-y and marginally up m-o-m, by
0.03%.
WMP NZ - NZD/MT
Jan 19 May 19 Sep 19 Jan 20 May 20 Sep 20 Jan 21 May 21
3,700
4,100
4,500
4,900
5,300
5,700
NZD3 - WMP ave fob NZ