Mintec Pricing Update - 12 September

Dairy

•At the close of trading last week, market sentiment in the European Dairy market was BULLISH.
•The Price assessment for European SMP increased slightly on the week as buying interest was returned to the market, while Product availability out of Poland and Lithuania declined further.
•The assessment for unsalted Butter EXW Europe [Mintec Code: J117] was made at €3,710 /mt, up €30/mt week-on-week.

Rapeseed Oil

•At the close of trading last week, market sentiment in the spot rapeseed oil market was BEARISH.
•The bearish sentiment was due to many market players having coverage until 2023 and not needing to purchase spot volumes. However, trades on the forward months were brisk with Mintec hearing several trades such as Nov/Jan traded 1360, Feb/Apr traded 1340,1335,1330 and May/Jul traded 1340,1335,1330.
•The Mintec Benchmark Prices for Rapeseed Oil FOB Rotterdam DH-0 [Mintec Code: RSOR]was assessed at €1,399.50/mt on Wednesday, down $30.00/mt from the previous Friday.

Almond

•At the close of trading last week, market sentiment in the almond market was MIXED.
•Limited trading was observed in the industrial almond market last week with buyers and sellers unable to find common ground.
•The Mintec Benchmark Prices for new crop standard 5% almonds FAS US [Mintec Code: NAL1] were assessed at $1.69/lb on 8 September, up 3 cents/lb on the week and 1 cent/lb above the most competitive bid.
•The August position report, released on 09 September, showed record shipments for the month at 228.30 million pounds. This figure was higher than the majority of estimates with the majority of market participants surveyed ahead of the release estimating August shipments between 200-215 million pounds.

Pork

•At the close of trading last week, market sentiment in the European Pig Deadweight Grad S market was BULLISH.
•Price assessments for Poland, France, and Germany increased over the week. While Spanish prices traded sideways on the week.
•Deadweight prices in the European pork market stayed unchanged this week with the Mintec Benchmark Prices for Pig Deadweight Grade S EXW Europe [Mintec Code: BW56] assessed at €2.08/kg at the last assessment on 6 September, up €0.01/kg on the week.