Expana has launched additional Expana Benchmark Prices for European Dairy Products
October 31, 2024
Following a period of market feedback, Expana has launched 5 monthly Expana Benchmark Prices (EBP) for European dairy products.
The initial proposal was announced in a market note published on Wednesday, September 11, 2024, which can be viewed here. The decision to go ahead with the launch was communicated in a market note on Monday, September 30, 2024, which can be viewed here.
The specifications for the assessments are as below:
The assessments will reflect the transactable value at 16:00:00 London time.
The European Union is the largest producer of dairy products globally and a key exporter. The assessments complement Expana’s existing dairy coverage in the region providing Expana subscribers with additional granularity for key dairy products from major producing countries.
Skimmed milk powder is used as an alternative to fresh milk. It can be used after dissolution in water or by adding the powder into a formulation. It is used to standardize dry matter or to optimize protein content. It is a key export product and is often used for products including baby food, confectionery, yogurt and ice cream.
Sweet whey powder is obtained by drying pasteurized sweet whey which is a by-product during the manufacturing process of cheeses. It is used in many different foods (e.g. bakery, snack, confectionery). Whey permeate is obtained by the removal of protein and other solids from milk or whey, resulting in a product with a high concentration of lactose. Whey permeate is used in baked goods, meats, soups, confectionery and dry mixes for various functional and nutritional benefits.
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