Fermented Milk Products insights

China Dairy Economic Monthly Report December 2024 Issue 185 (Total No. 185) Organizer: Dairy Economic Research Office of National Dairy Industry Technology System Editor-in-Chief: Liu Changquan, Li Shengli Executive Deputy Editor-in-Chief: Dou Ming Table of Contents I. Overall Situation Analysis II. Milk Production III. Milk Source Base Construction IV. Dairy Processing I. Overall Situation Analysis 1. Fresh Milk Market The monthly average price of fresh milk fell Weekly price is relatively stable According to the monitoring data of the Ministry of Agriculture and Rural Affairs, the average price of raw milk in 10 major producing provinces such as Inner Mongolia and Heilongjiang in November 2024 was 3.12 yuan/kg, a month-on-month decrease of 0.3% and a year-on-year decrease of 15.7%. The weekly price is relatively stable. 2. Feed raw materials The average price of corn in November 2024 has narrowed The monitoring data of the Ministry of Agriculture and Rural Affairs showed that the national average price of corn in November 2024 was 2.36 yuan/kg, a month-on-month decrease of 1.7%, a decrease of 2.3 percentage points, and a year-on-year decrease of 18.3%. The decline in production areas exceeded that in sales areas. Soybean meal The average price continued to fall in November 2024 The Ministry of Agriculture's rural monitoring data showed that the national average price of soybean meal in November 2024 was 3.35 yuan/kg, down 0.9% month-on-month, the decline widened by 0.3 percentage points, and down 25.6% year-on-year. 3. Dairy production The output of dairy products from January to November 2024 was 26.948 million tons, down 2.4% year-on-year According to the National Bureau of Statistics, the output of dairy products from January to November 2024 was 26.948 million tons, down 2.4% year-on-year, of which 2.467 million tons in November, down 4.1% year-on-year . 4. Dairy company dynamics Yili Group cultivates new talents for Ningxia dairy industry development; Mengniu's multiple research results shine at the annual meeting of the Chinese Nutrition Society; Yuexiu Dairy's "Xie Tiandi" black soil Jersey pure milk is launched; Weigang Dairy's Shandong Xianchun Dairy Processing Plant is put into production; Adopt a Cow's tenth ranch is officially put into operation in Gongzhuling, Jilin; Xiyuchun and Xinjiang Fruit Industry Group signed a strategic cooperation agreement; Yipin Dairy's 30,000 dairy goat breeding project in Fuyu County, Heilongjiang started; A2 cooperated with China Agricultural Reclamation Shanghai Company to establish the A2 Global R&D Center. 5. International market International market milk powder price Index rises In November 2024, GDT held two online auctions, and the milk powder price index rose. Compared with the last auction, the 367th auction held on November 5, the auction price of skimmed milk powder was US$2,850/ton, the price index rose by 4.0%, and the whole milk powder was US$3,713/ton, an increase of 4.4%; the 368th auction on November 19, skimmed milk powder was US$2,882/ton, an increase of 0.9%, and whole milk powder was US$3,826/ton, an increase of 3.2%. II Milk production 1. Raw milk market Table2-1  Ministry of Agriculture and Rural Affairs monitors the main dairy cow producing provinces (regions) Average price of raw milk Figure2-1 National weekly price monitoring of raw milk by the Ministry of Agriculture and Rural Affairs 2021.01-2024.11 Inner Mongolia Four

In Hungary, the national average producer price of raw milk was 192.17 forints/kilogram in November 2024. With an improvement in fat content of 0.11 percentage points and protein content of 0.04 percentage points, and a 4 percent increase in the base price, the average price of raw milk increased by 5 percent in November this year compared to October, and exceeded the average price of the same month of the previous year by 20 percent. In our country, raw milk deliveries also decreased in November, by about 12 percent. As for other countries, the producer price of raw milk, expressed in national currency, increased by 31 percent in New Zealand in October 2024, and by 17 percent in the USA and the European Union in comparison to a year earlier.

The Turkish Statistical Institute announced that there was an increase in the production of chicken meat, eggs and cow's milk in October. Chicken meat production increased by 11.6 percent and chicken egg production increased by 2.6 percent.