The weighted average price of imports of exchange-traded dairy products in Russia has reached the maximum of the last three years

The average weighted average import price increased by 1.7% compared to the previous week to 34.74 rubles/kg, compared to the level of October 2019, the indicator is higher by 6.06%. This is the maximum of the last three years; the previous peak was at the end of March 2020, 34.47 rubles/kg. The current indicator is 0.8% higher than in March. An important role in raising the price of imports is played by the exchange rate; the ruble has been decreasing for the last few months.

DIA analysts updated data on the volume of imports of exchange-traded dairy products according to the latest statistics of the Federal Customs Service for August 2020. The share of import prices in the calculation of the Dairy Index DIA increased from 26.9% to 28.9% due to a slowdown in the growth of raw milk production compared to the previous month, the volume of imports of exchange-traded products in terms of milk remained approximately at the same level of about 580 thousand tons. This was an additional factor in the growth of the Dairy Index DIA, which increased by 1.5% compared to last week and reached 28.25 rubles/kg.

In August 2020, according to the Federal customs service, the volume of imports of butter, whole milk powder and whey powder decreased, while the volume of imports of cheeses and skimmed milk powder increased. The share of the pair of skimmed milk powder + butter and whole milk powder decreased in the calculation of the import price while the share of the pair of cheese + whey increased. At the same time, the share of cheaper Belarusian products (except for whole milk powder) decreased, which also led to an increase in the prices of pairs of products in the calculation of the indicator.

An additional growth factor was the increase in prices for exchange-traded dairy products last week. At the BUCE auction, the price of butter increased by 3.4%, and the price of skimmed milk powder increased by 2.4%. At the Trigona Dairy Trade Auction, prices for all key exchange-traded dairy products rose. The price of butter, taking into account the strengthening of the ruble, increased by 1.2% to 315.5 rubles/kg, the price of cheddar increased by 5.9% to 310.9 rubles/kg, the price of skimmed milk powder increased by 0.9% to 201.2 rubles/kg. The price of whey powder increased by 1.8% to 66.76 rubles/kg.

The import price of a pair of skimmed milk powder + butter increased by 2.5% to 36.96 rubles (about 0.40 euros)/kg (1 kg in terms of milk). The import price of a pair of cheese + whey increased by 0.86% to 32.98 rubles (about 0.36 euros)/kg. The price of whole milk powder remained at the level of 27.11 rubles (about 0.30 euros)/kg.         

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