Source: Vietnambiz.vn
Number Increasing cases of corona virus infection caused governments of many countries, especially the US and Europe, to once again tighten travel regulations, shut down all restaurants except take-out orders.
The decline in sales of cheese, butter and milk in stores was partially offset by increased demand for home cooking, but the gap from the beginning of the year made the world almost shut down. significant dairy demand from restaurants, schools and other food service providers. And this second close is in danger of a worse effect because the capital markets have already hurt. Even in the coming weeks, the market will begin to collapse due to a change in the consumer’s living habits, no longer wanting to buy anymore, says Paul Barre – dairy product manager at Marex Company. Solutions in London said.
However, according to global dairy strategist at RaboBank in Chicago – Mary Ledman – demand for traditional cheeses for hamburgers, sandwiches, pizzas such as American-style cheeses and cheeses. mozzarella was higher than expected.
The Australian and New Zealand dairy supplier Maxum Foods showed that, apart from the ongoing chaos in the US cheese market, global dairy markets remained calm despite the pandemic. Fundamental factors in the dairy market include major producers and regional factors that influence the value orientation of dairy products.
Maxum Foods said that the risk of cheese stockpiling depends on the ability to recover demand for this commodity in Europe and America as well as the prospect of increasing exports.
Research and brokerage firm HighGround Dairy based in Chicago, partners of Marex said that the price of crate cheese could drop to only 1.41 USD / lb as in March; The block cheese contract will also decrease to only $ 1.49.
There will be a slow and difficult recovery in the food service sector as business, tourism, and events are limited through 2021.
Maxum Foods analyzes the following specific markets:
Skim milk powder (SMP)
Prices for skim milk powder (SMP) in New Zealand have been stable since mid-September, but have fallen in the US amid continued expansion in EU supplies.
Whole Milk Powder (WMP)
Whole milk powder (WMP) prices have been stable over the past few months, with EU and New Zealand WMP prices hovering around $ 3,000 / ton.
Prices for avocado varieties decreased by 20% and whey powder prices also decreased
