In the Western EU, the sweet whey powder (SWP) market sentiment continued to be bearish, resulting in a price drop during the week ending 11th May. The Mintec benchmark price (MBP) for Whey powder EXW West EU stood [Mintec Code: BL131] at €770/mt, down 1% week-on-week (w-o-w), a decrease of €10/mt. The milk flush is in full swing, the peak production period, and cheese output is expected to surpass last year’s production level, according to some sources. Strong cheese production has generated ample liquid whey (cheese–by-product) to dry, adding downward price pressure on the West EU SWP spot price. A source indicated that prices “may have bottomed out, and they won't go down any further, so they will steady in the following weeks.” Also, Inventories are sufficient to meet most buyer needs, giving buyers higher purchasing power. Meanwhile, producers are pushing to move volumes as quickly as possible due to higher interest rates, which increase the cost of borrowing, while buyers are focusing on a just-in-time inventory strategy.
EU high whey protein prices were stable, but market sentiment remained bearish, leading to further price declines in whey protein isolates (WPI). High stocks and weak demand drove prices down. The MBP for Whey Protein Isolate 90% EXW EU [Mintec Code: WIEU] was assessed at €7,100/mt on 11th May, down €500/mt w-o-w.
