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Help make our UK wholesale prices more robust
Wednesday, 2 December 2020
By Chris Gooderham and Patty Clayton
As the UK enters a new era following EU exit, reliable market statistics will become increasingly important. We know that our wholesale prices are relied upon throughout the industry, and we want to make them more robust.
At the moment, we provide indicative prices for spot sales in the month, based on the simple average of quotes given to us from a range of participants. These include buyers, sellers and traders to give us the full spectrum of prices being agreed. However, we do not get information on the volumes traded. Therefore, the prices can only ever be an indication of the market conditions, not a weighted average of traded sales in the month.
We want to change that, but we need the industry to support that change.
From January, we are looking to collect sales volumes alongside prices for bulk cream. If you trade UK bulk cream, then we need you included in this survey to ensure it is robust, reliable and representative of sales across the country.
We are looking to do the same for mild cheddar, bulk butter and skimmed milk powder later in the year. If you trade any of these products, and are not currently involved in the survey, please get in touch.
The numbers we provide can only be as good as the figures we receive. If we don’t get enough participants, then the price series will have to remain “indicative” and could be in danger of stopping altogether.
If you believe you can help, please get in contact.
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