Lactose
Lactose markets are stable compared to the rest of the dairy portfolio
Europe
Lactose prices are largely stable
Lactose is traded in the range of EUR 1150-1280 ex works, which implies that the market is moving sideways since early January. Supply is solid but demand develops favorably as well since standardization and fat-filled milk powder production both require growing volumes of lactose. The problems in the infant food market do not seem to have an impact as production shifts between manufacturers without end consumption being affected too much.
Americas
US lactose market is stable
US lactose changes hands in quite a wide range depending on the brand, but most transactions materialize around a price level of USD 0.55-0.56/lb (1225/t) ex works. The top end of the range where prices are above USD 0.60/lb feels a bit tighter than the bottom end of the range where availability of selected brands is better. EU origins are increasingly competing for deals in some of USA’s key markets like SE Asia and South America.
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