Market sentiment for German cream remained bearish during this week’s assessment period (1st of December 2022 16:00 BST – 8th of December 2022 15:59:59 BST), with buying interest declining strongly. In addition, availability has increased during the week with processors looking to offload additional cream before the holiday period. This led to prices declining significantly during the week. While the collapse is not expected to continue in the same manner, bearish sentiment is expected by market participants for the remainder of December. One source commented, “Last week we saw the first large processors in the market offering significant volumes. This has pushed all buyers out of the market in anticipation of further declines. This week we have then seen offer levels dropping on an hourly basis. We did not expect such a strong decline, but availability seems to be better than indicated by many processors.”
The MBP for German Cream EXW 40% [Mintec Code: JR92] decreased by €1.2/kg on the week to €6.45/kg.
