Casein Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Casein in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Casein Price Trend for the Q1 of 2024

Casein price trends were observed to be fluctuating throughout the said period of Q1’24. The casein market was subjected to the oscillations in the dairy industry in the international markets as milk is the primary feedstock material to produce casein.

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Influenced by the freight disturbances and the challenges in the international markets, the casein prices surged from January to February since the demands were also higher during the peak winter months. However, as the pressure started rising from the supply side, suppliers started flooding the inventories, expecting even higher demands.

The latter half of the said quarter witnessed markets normalizing a little by cutting down the prices. Still, the overall market sentiments were largely positive. In the New Zealand market, the casein prices went from about 8590 USD/MT (FOB) in January to about 8675 USD/MT in March’24. Similarly, in the US market, the average monthly prices for Casein went from about 8267 USD/MT in January’24 to around 8322 USD/MT in March.

Analyst Insight

According to Procurement Resource, given the current supply and demand dynamics the Casein price trends are likely to continue fluctuating in the coming months as well.

Casein Price Trend for the Second Half of 2023

Casein prices were observed following a downward trajectory during the given span of H2’23. According to USDA (US Department of Agriculture), a significant growth in the rate of milk production per farm was noticed during this time. This directly translated into the rise of supply stocks for casein as well since casein is directly sourced from milk. Thus, the price trend took a downward journey throughout the entire period of Q3 and Q4 of 2023.

In the USA the monthly average prices of rennet casein went from about 9921 USD/MT in July’23 to around 7782 USD/MT in December’23. This showed an approximate 21% reduction in the monthly average prices. Similarly, with an estimated 22% fall the acid casein prices went from about 10403 USD/MT in July to around 8047 USD/MT in December. Overall, a tepid price trajectory was witnessed with dull market sentiments.

Analyst Insight

According to Procurement Resource, as the new year arrives, the Casein prices are expected to rise again with the increase in downstream consumption.

Casein Price Trend for the First Half of 2023

Casein prices fluctuated throughout the said period. As the casein protein is sourced from milk, the prices followed the milk price trend and the end user consumption. Casein prices almost remained constant in the first quarter in the USA market and plunged later in the second quarter. The average price of rennet casein in the US domestic market averaged around 13161 USD/MT in January’23 and closed the H1 with an average price of about 10086 USD/MT in June 2023, registering an overall decline of about 23%.

Meanwhile, prices had even more tribulations in the Asian market. The market had a slow start; however, some inclinations were seen. But consumption did not rise much compared to rising prices, eventually causing the price trend for Casein to decline. Rennet casein prices averaged about 2275 USD/MT in January in the Japanese domestic market, whereas in May, the average prices came down to about 2170 USD/MT. Overall, prices mostly swung low for Casein as the consumption and production both had taken a hit in recent years.

Analyst Insight

According to the Procurement Resource, the price trend for Casein are expected to behave in a similar fluctuating manner given the current softening demand dynamics and altering consumption rates.

Procurement Resource provides latest prices of Casein. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.