The price of raw milk in the "regions-importers" remains at the level of 26.04 rubles/kg. The price of milk in the "regions-exporters" increased last week by 0.04% to 23.17 rubles/kg. The weighted average price of milk in the "regions-importers" and "regions-exporters" amounted to 24.54 rubles/kg, which is 0.04% higher than last week and 2.85% below the average prices in January 2017.
The index of import price amounted to 24.26 rubles/kg, which is 1.3% higher than last week and 12.67% lower than in January 2017. At Trigona Dairy Trade auction on January 12, 2018, prices for whey powder and skimmed milk powder increased. The ruble exchange rate against the Euro has strengthened compared to the previous auction and has lowered the price of import for dairy products. Prices of butter and cheese taking into account the current ruble exchange rate decreased by 1.18% to 279.04 rubles/kg and 200.77 rubles/kg, respectively. The price of skimmed milk powder increased by 3.42% to 91.88 rubles/kg, the price of whey powder increased by 0.37% to 44.24 rubles/kg.
Prices at the auction of Belarusian universal commodity exchange in January 2018 showed growth. The price of skimmed milk powder increased by 4.35% compared to the last auction in 2017 up to 120 rubles/kg. The average price of butter has increased by 4.6% to 268.8 rubles/kg. The price of cheese has increased by 2.1% to 245.7 rubles/kg. We will remind that the Ministry of agriculture of the Republic of Belarus took a decision on reduction of the minimum recommended export prices for dairy products since 12 January 2018, however, the updated indexes are still above the level of actual quotations at the auction of Belarusian universal commodity exchange.
The import of favorites for the analysis of categories of dairy products was reduced, therefore there decreased the proportion of the price of import when calculating RDRC Dairy Index, which has led to additional growth of the index. In the import structure there decreased the proportion of the pair Skimmed milk powder + Butter and increased the proportion of a cheaper pair Cheese + Whey and the proportion of whole milk powder.
The import price of a pair Skimmed milk powder + Butter grew by 5.1% to 26.79 rubles/kg (1 kg recalculated for milk) due to the increase in the price of skimmed milk powder. The import price of a pair Cheese + Whey has decreased by 0.96% to 22.71 rubles/kg. The price of whole milk powder has increased by 0.13% to 22.91 rubles/kg.
New Dairy Index RDRC will be published on January 22.
Dairy Index RDRC
Dairy Index RDRC is calculated based on two key indicators, weighted average price of milk in “regions-exporters” (raw milk) and “regions-importers” and the Index of import price. The “regions-exporters” include the Republic of Tatarstan, Novosibirsk, Kirov and Yaroslavl regions and the "regions - importers" - Moscow region, Altai region, Krasnodar region and Bryansk region. The index of import price is based on the stock prices of key dairy products – skimmed milk powder, whole milk powder, butter, cheese and whey powder. Prices of imported dairy products are calculated based on the prices of dairy products of the Belarusian universal commodity exchange (BUCE) and the price at the sites of Trigona Dairy Trade and GlobalDairyTrade.
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