Mintec launches additional monthly EU Dairy Mintec Benchmark Prices

All Market Notes 31 August 2023

Following a period of market feedback, Mintec has launched 8 monthly Mintec Benchmark Prices (MBP) for European dairy products, effective from Thursday, 31st August.

The initial proposal was announced in a market note published on 31st July 2023, which can be viewed here. The decision to go ahead with the launch was communicated in a market note on 15th August 2023, which can be found here.

The specifications for the assessments are as below:

The assessments reflect the transactable value at 16:00:00 London time.

The EU is one of the largest players in the global dairy industry and a key exporter. The launch of the new assessments gives Mintec subscribers greater clarity in understanding price movements and allow for product comparisons at a regional level.

Caseins are a naturally occurring protein found in cow’s milk with high functionality and versatile applications. Acid caseins have a broad range of food applications due to their emulsifying properties and heat stability, as well as for a variety of industrial processes, ranging from paper and paint manufacturing to the cosmetic industry. Meanwhile, rennet caseins, due to their functional qualities, are mainly used for processed cheese or analogue cheese production. The launch of EU acid and rennet casein assessments provides transparency in a market which is currently very opaque and lacks independent and impartial price benchmarks.

The assessment for Spanish sweet whey powder (SWP) complements Mintec’s existing SWP coverage and provides Mintec subscribers additional granularity and insight into the European SWP markets.

The European speciality cheese markets are traditionally very opaque and the cheese assessments address this issue by increasing transparency and providing independent reference points for the industry.

Please send any questions or comments about this market note to methodology@mintecglobal.com and clearly state which market note your comments relate to, and if the comments are intended for publication by Mintec.

Mintec will acknowledge receipt of all comments by email.