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Mintec Pricing Update - 20 September

September 20, 2022

2 mins read

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 Skimmed Milk Powder EXW Europe [Mintec Code: J117] was made at €3,800 /mt, up €90/mt week-on-week.


Vegetable Oil

•At the close of trading last week, market sentiment in the spot Palm Oil market was BEARISH.
•This was due to no fundamental change to the current bearish sentiment after the Malaysian Palm Oil Board (MPOB) official data release on 12th September.
The Mintec Benchmark Prices [MBP] for Crude Palm Oil CIF Rotterdam [Mintec Code: CPOR] were assessed at $1,119.50 down $1.00/mt on the week.


Almond

•At the close of trading last week, market sentiment in the almond market was MIXED.
•Prices had limited upside last week, following the release of the August position report, despite record shipments for the month. Limited trading for industrial almonds was observed, with buyers unwilling to engage with sellers unless “the price is right”.
The Mintec Benchmark Prices for standard 5% almonds FAS US [Mintec Code: NAL1] were assessed at $1.72/lb on 15 September, up 3 cents/lb on the week.

Pork

•At the close of trading last week, market sentiment in the European Pig Deadweight Grad S market was BULLISH.
•Price assessments for Germany, France, Spain, and Poland increasing throughout the week. Low availability was the primary price driver behind price increases in Germany, Poland, and France, while steady international demand has supported a slight price increase in the Spanish market.
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 €2.11/kg at the last assessment on 13 September, up €0.03/kg on the week.

 

Almond

•At the close of trading last week, market sentiment in the Grains market was BULLISH.
•The wheat market remains supported following last week’s concern about the grain corridor’s future, the ongoing dryness in Argentina and possible reduced fertiliser application due to high prices.
The Mintec Benchmark Prices [MBP] for Wheat Milling 11% DDP Rouen FR [Mintec Code: WROF] was assessed at €327.00/mt, up 2% week-on-week (w-o-w).

Topics: Pricing

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