Larger-than-anticipated ONIL milk powder tender closes

Following several days of bidding on the latest milk powder tender issued by the Algerian buying agency, Office National Interprofessional du Lait et de Produits Laitiers (ONIL), for skimmed milk powder (SMP) and whole milk powder (WMP), for delivery in March/April/May, the tender closed on 10th January 2024. According to market sources, a combined volume of 37,00-40,000mt has been committed in the tender, split into 15,000mt WMP and 22,000-25,000mt SMP. 

According to multiple market sources, the SMP price range for this tender was reported around $3,050/mt CFR Algeria, and price levels for WMP have been reported to range from $3,700-3,800/mt CFR Algeria. While the WMP demand was largely covered by Europe, South America, and New Zealand, SMP volumes have mostly been covered by European suppliers.