The dairy market entered a new paradigm in 2022. From an outsider’s perspective, it would seem that dairy commodity prices have not fluctuated between January and December 2022. A metric ton of Gouda was sold for €4325 EXW on January 5, 2022, and €4300 EXW in early December. Yet, the bullish trend observed at the beginning of the year has been entirely replaced by bearish sentiment. The return of war on European soil and its economic consequences, such as soaring energy prices and shortages of grains, have all reverberated throughout the dairy industry, fuelling uncertainty amongst buyers, sellers and traders.

Vesper’s latest report aims to go beyond the presumed uncertainty by identifying and analysing the factors at play through transparent data and insights from in-house dairy experts, making it possible to predict what awaits the dairy industry in 2023. The report covers supply and demand, import/exports, production trends, and price forecasts.

Throughout the second half of 2022, for instance, prices were driven down by slowing demand consumption. Supply, on the other hand, was better than anticipated. Nevertheless, some discrepancies can be observed per region. The adverse dynamics at play—the US dairy market is growing, Europe is experiencing temporary growth, whilst New Zealand suffers from wet climatic conditions—make it challenging to predict future production trends.

Download the 2023 Global Dairy Outlook here for a deeper understanding of last year’s market trends and the impact they will have on this year’s dairy market.

About Vesper

Vesper connects commodity players with independent intelligence to make smarter trade decisions. The platform offers price and stock calculations, real-time futures and the most accurate forecast in the market with 90%+ probability using AI and machine learning. Vesper’s independent commodity intelligence platform collects all data in one consolidated and personalised overview, enabling users to easily shift through data and save hours looking for market insights. With Vesper’s proprietary Vesper Price Index (VPI), and its accurate forecasts, users can improve their negotiation power and stay ahead of the market.