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Reduced demand puts pressure on powder prices
Thursday, 23 April 2020
By Jennie Tanner
Reduced demand for the core products of WMP and SMP has prompted a fall of 4.2% in the GDT Price Index at the latest trading event.
The most recent results, from 21 April, show the price of SMP is down 4.9% and WMP down 3.9%. Usually the price would start to see an increase at this time of year as production is in the trough in the Southern hemisphere. However, the lack of demand from Asian markets has put downward pressure on prices.
The price of Cheddar has seen a slight increase of 1.9% in the most recent GDT results. Traded Cheddar volumes are small compared to WMP, which makes up around half of the product sold through GDT.
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