Skim Milk Powder (SMP) Price Trend and Forecast

Regional Price Overview

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

Skim Milk Powder (SMP) Price Trend for the Second Half of 2023

The skim milk prices were observed to be fluctuating throughout the said period of the second half of the year 2023, mostly on the lower end of the price curve. This price trend was largely driven by the dull demands of the consuming industries. After falling considerably globally throughout the third quarter from July to September the SKM prices started to marginally stabilize at the beginning of the fourth quarter in October.

Skim Milk Powder (SMP) Price Chart

Please Login or Subscribe to Access the Skim Milk Powder (SMP) Price Chart Data
 

This steady inclination continued for a month as the baking and food industries prepared for the Christmas holidays. However, the month of December again saw a decline in market rates since the supplies were increased and industrial consumption went on the back foot again. So, this depreciation in skim milk powder prices despite a rise in whole milk prices shows a tampering customer interest in the product. Overall, mixed market sentiments were observed.

Analyst Insight

According to Procurement Resource, the market analysis suggests that the demands will continue to be dim, however, a fall in the global SKM production is also anticipated.

Skim Milk Powder (SMP) Price Trend for the First Half of 2023

oughout the first half of 2023, especially in the European region. Prices for Skim Milk Powder (SMP) remained on a declining trajectory and continued to fall throughout the said period. The primary region for the decline in prices was reduced consumption.

A considerable decline in Skim Milk Powder (SMP) consumption has been noticed in countries like USA, Europe, and China; the majority reduction has been contributed by restaurants. The ease in freight and supply amidst declined consumption caused Skim Milk Powder (SMP) prices to fall further. Fluctuations in dollar rates in the international market also manipulated the export sentiments for Skim Milk Powder (SMP).

Analyst Insight

According to the Procurement Resource, Skim Milk Powder (SMP) prices are likely to fall in the coming quarter given the reduced demand and over-stocked inventories.

Procurement Resource provides latest prices of Skim Milk Powder (SMP). 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 pThe price trend for Skim Milk Powder (SMP) observed bearish sentiments threriod; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.