Lactose
Growing SMP production may tighten the lactose market further
Europe
Still a lot of demand for the remainder of 2025
EU lactose is traded in a range of EUR 1120-1220 ex works. Manufacturers remain relaxed as there still is quite some open demand for Q4. In addition demand for standardization may increase due to the growing surplus milk availability.
Americas
Growing demand for standardization tightens the market
The US lactose market feels tight. There is still some availability although most manufacturers are sold out for Q4. Prices are hovering around USD 0.50/lb (1100/t) ex works. Demand for standardization – in South America for instance – is getting stronger as milk supply continues to build the world over. Pharma demand is also quite firm.
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