We also have our weekly update on the global dairy markets with Charlie Hyland from INTL FCStone.
Rabobank
At the recent International Dairy Foods Association (IDFA) Forum, executives in the dairy industry met and discussed dairy’s future, primarily from a trade and economic perspective. Tom Bailey, senior dairy analyst at Rabobank, told DairyReporter the global market looks very strong right now from a pricing standpoint.
The US is becoming a big player in the export market, Bailey said, and is now the largest contributor of new milk available for trade. This coincides well with the recent phase one agreement with China, and the signing of the USMCA deal.
“Incremental growth, I would say, is a good step,” Bailey said.
“It’s not an immediate change of the fundamentals as we know it. But with trade negotiations and deals like this it never is. It’s always a long, slow game.”
Bailey also gave an update on a potential recession in the US – the probability is down, but Rabobank is still concerned about the next 18 months. The outcome of the US election in November could throw a wrench into the economy as well as the recently agreed upon trade deals.
INTL FCStone
The North American team at INTFL FCStone doesn’t believe US dairy can have full confidence yet in the phase one deal with China, as so many political factors are still ‘up for grabs’ in this election year.
President Trump needs to keep strategies ‘in his back pocket’ when it comes to China, FCStone’s executive director of global dairy Robert Chesler told DairyReporter.
“We have very little confidence in today, let alone tomorrow.”
Price risk stability is projected to be volatile and hard to come by this year, Chesler said. And competition for exports between the US and EU will likely heat up in the long term. In the short term, the US will stay sensitive to things like currency valuation and domestic prices.
Fructital
An Italian ingredients company for the gelato and pastry sectors, Fructital was at the recent Sigep show in Rimini, Italy.
The company was promoting all of its various solutions, however, it was concentrating on what it said are some of the biggest trends in the sector: low-sugar and plant-based.
Fructital sells its products in more than 30 countries globally, and in the gelato space, sells milk gelato bases, fruit sorbet bases, supplements, vegan lines, pastes, toppings, glazes and more.
It also has a program to assist those wanting to start their own gelato shop, offering help from the initial concept through to opening.
Algenuity
UK-based algal biology and biotechnology company Algenuity creates products for the food, beverage and nutrition, feed and aquaculture, cosmetics and personal care industries.
It delivers algae-based solutions and innovation, with a priority on sustainability and delivering positive impact.
Its Chlorella Colours microalgae biomass platform – a source of functional, plant-based protein plus natural colors with a chlorophyll content of less than 1% – targets the food and beverage, cosmetics and pharma markets.
In the food and beverage sector, Chlorella Colours enables incorporation of the biomass as a food and beverage ingredient at higher percentages across diverse product families, potentially displacing animal-based or less sustainable sources of protein and other nutrients.
Chlorella Colours satisfies the needs of the growing vegan sector, offering sustainable, natural, gluten-free and non-GM whole plant cell-based protein-rich ingredients with enhanced organoleptic properties – including improved fragrances and flavors – for food, drink and supplement products.
Strains contain varying levels of natural pigments, such as lutein and other carotenoids, resulting in yellow, lime and white color varieties, although the company is working on other colors as well.