Whole Milk Powder (WMP) Price Trend and Forecast

Whole Milk Powder (WMP) Regional Price Overview

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

Whole Milk Powder (WMP) Price Trend for the First Half of 2024

In the first half of 2024, whole milk powder (WMP) prices experienced a mixed trend, initially rising for five consecutive Global Dairy Trade (GDT) auctions before dipping in the most recent auction of June’24 by around 2.5%. Despite this recent decline, overall WMP prices remained about 10% above their long-term averages, reflecting robust demand dynamics. Although Chinese buyers pulled back during the latest auction, Southeast Asian and Middle Eastern buyers stepped in, mitigating the impact of the reduced Chinese demand.
 

Whole Milk Powder (WMP) Price Chart

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Driven by strong demand and supply balance in the global dairy market, the market’s momentum was positive for the most part. The dairy market, in general, was looking upwards throughout the said period. This was greatly influenced by the rising costs of raw material milk amidst rising global consumption. Overall, positive market sentiments were witnessed.

Analyst Insight

According to Procurement Resource, despite recent normalizations, Whole Milk Powder prices are projecting further increases in the coming months driven by a strong supply and demand dynamic.
 

Whole Milk Powder (WMP) Price Trend for the Second Half of 2023
 
Whole Milk Powder (WMP) is directly sourced from milk, so the fluctuations in its feedstock milk prices are directly reflected in the Whole Milk Powder (WMP) prices as well. During the second half of 2023, as per USDA (United States Department of Agriculture), there was a striking shrinkage seen in milk production and production capabilities.

This uplifted the prices for milk and most of its associated products. A reduction in the milk yield of cattle and also in the number of cattle was directly responsible for it. However, a decline in the consumption of milk products was also observed, especially with the rising wave of veganism. That provided some counterbalance to the WMP prices during the said period. Overall, a varying price trajectory was seen in H2’23.

Analyst Insight

According to Procurement Resource, a similar market behavior is anticipated in the Whole Milk Powder (WMP) market in the coming months as well, since not much is changing on the supply and demand sides.
 

Whole Milk Powder (WMP) Price Trend for the First Half of 2023

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Whole milk powder is sourced from milk, so the prices also vary with fluctuations in milk prices. But in H1 2023, dairy consumption played a crucial role in determining Whole Milk Powder’s market behaviour.

In the USA, Whole Milk Powder observed a steady decline throughout both quarters. Prices went from an average of about 4927 USD/MT to around 4343 USD/MT in June 2023, with an approximate decline of about 11% within six months. As all other aspects of the Whole Milk Powder market, like production yield and freight mediums, were still stable, it was the decline in consumption that resulted in these price trend.

Similarly, in the European market, prices were observed to be low swinging. Whole Milk Powder in the German market went from an average of about 4199 USD/MT at the beginning of Q1 to around 3795 USD/MT by the end of Q2 2023.

The price trend for Whole Milk Powder (WMP) in the Asia Pacific region around Oceania were still stable as they fluctuated within a very narrow range. Consumption behaviour didn’t change much here, so stable supply-demand dynamics were observed.

Analyst insight

According to Procurement Resource, the price trend for Whole Milk Powder are expected to remain fluctuating as the uncertain end-consumer demands and consumption levels will likely affect the market.

Procurement Resource provides latest prices of Whole Milk Powder (WMP). 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.