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Skim milk powder prices have risen this year on both supply and demand changes. Fonterra lifted its 2026/27 forecast milk price back to its May level of NZ$9.75 per kgMS, citing stronger demand for WMP and SMP from Southeast Asia, the Middle East, Africa and China.
Iran, once the world's fourth-largest SMP exporter, has had its market access curtailed since March.
Lost Iranian supply and redirected Middle East demand are pulling SMP buyers toward New Zealand and European exporters, supporting dryer-based dairy ingredient prices. Higher powder prices also raise the cost of milk-based feed ingredients.
farmersjournal.ieLorcan Roche KellyNov 4, 2026Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
