Lactose
Upward price momentum continues
Europe
Anticipated price increase materialized
The market feels firm due to limited availability and strong global demand. Milk supply is strong virtually all over the world and the resulting increase in production of milk powders fuels the demand for US lactose for standardization purposes. The anticipated increase in prices that we alluded to last month did materialize. US lactose is changing hands at prices in the range of USD 0.55-0. 60/lb (1215-1325/t) ex works.
Americas
Upward price potential for Q1 is undeniable
The US lactose market feels tight and is expected to remain tight for most of Q1. Volumes available for early next year do not seem to be sufficient for the demand that is still out there. Product is traded in the range of USD 0.48-0. 55/lb (1060-1215/t) ex works, but it feels like we may go soon above these levels.
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