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INDIA: Payout and Analysis of SMP + Butter

Skimmed milk powder (SMP) and Butter are two of the main dairy products of India. During winter, at the peak of production, Indian dairy companies produce SMP for meeting the country's ever growing full-year demand of milk.

On this page the prices of SMP and Butter are used to calculate the theoretical value of the milk used for their production.

This page offers:

Payout SMP + Butter in India

Considering the latest prices of SMP and Butter in India, and some assumptions, this Payout calculates the theoretical value of whole milk produced in India and processed into SMP and Butter.

INITIAL VARIABLES:
100 LT of Whole Milk with 3.5% p.p. Fat
and 8.5% p.p. Solids-non-fat (SNF)
100 LT of Whole Milk = 103 Kg of Whole Milk
PROCESSING of Whole Milk with 3.5% p.p. fat, 8.5% p.p. SNF
a. 3.5% p.p. Fat *103 Kg Milk = 3.61 Kg of FAT
which produces:
4.32 Kg of BUTTER 		b. 8.5%p.p. SNF *103 Kg Milk = 8.76 Kg of SNF
which produces:
9.12 Kg of SMP
330 330 300.00 200 0.040 0.090
Your values Current prices
and indicative values
Price MIN Butter Rs/Kg 330 Rs/Kg
Price MAX Butter Rs/Kg 330 Rs/Kg
Average Price Butter 330.0 Rs/Kg 330.0 Rs/Kg
Price MIN SMP Rs/Kg 330 Rs/Kg
Price MAX SMP Rs/Kg 330 Rs/Kg
Average Price SMP 330.0 Rs/Kg 330.0 Rs/Kg
Processing Cost Rs/100LT 300 Rs/100LT
P-P Expenses* Rs/100LT 200 Rs/100LT
Theoretical price 3934 Rs/100LT
48.31USD/100Kg 		3934 Rs/100LT
48.31 USD/100Kg
CALCULATE RESET
*Post Procurement Expenses

The following graph shows the historical trend of the results of the SMP + Butter Payout in India, according to the default values. The historical curve of India is compared with the trends that are obtained from the Payout by inserting the prices of SMP and Butter in other geographic areas.

Comparison between the prices of SMP and Butter

The table displays the quantities of SMP and Butter purchased in India through the NCDFI eMarket platform, and the relative sale prices.

INDIA: Quantity sold and prices of dairy products
BUTTER SMP
Month survey Px Min
(Rs/Kg)		 Px Max
(Rs/Kg)		 Quantity Sold
(Ton)		 Px Min
(Rs/Kg)		 Px Max
(Rs/Kg)		 Quantity Sold
(Ton)
Aug 2021 - - 1.858 - - 5.469
Jul 2021 - - 4.423 - - 10.527
Jun 2021 - - 3.449 - - 4.952
May 2021 - - 231 - - 2.334
Apr 2021 - - 220 - - 565
Mar 2021 - - 240 - - 2.936
Feb 2021 - - 2.797 - - 7.703
Jan 2021 - - 3.207 - - 6.669
Dec 2020 - - 1.964 - - 8.327
Nov 2020 - - 2.930 - - 8.201
Oct 2020 - - 346 - - 3.917
Sep 2020 - - 1.164 - - 3.089
Aug 2020 - - 5.117 - - 7.200
Jul 2020 - - 964 - - 830
Jun 2020 - - 2.914 - - 655
May 2020 - - 182 - - 715
Apr 2020 - - 305 - - 50
Mar 2020 - - 47 - - 550
Feb 2020 - - 425 - - 1.384
Jan 2020 330 330 1.137 330 330 722
Dec 2019 330 330 152 320 320 770
Nov 2019 - - 185 - - 2.985
Oct 2019 340 340 20 - - 1.035
Sep 2019 320 320 5 290 300 715
Aug 2019 310 310 98 284 295 675
Jul 2019 306 320 215 270 270 673
Jun 2019 305 310 750 260 270 763
May 2019 265 285 940 235 250 1.596
Apr 2019 245 265 1.056 210 215 4.070
Mar 2019 230 245 896 194 210 767
Feb 2019 230 245 273 200 205 124
Jan 2019 230 245 1.108 195 215 1.594
Dec 2018 220 240 220 185 210 2.630
Nov 2018 220 220 890 150 175 2.099
Oct 2018 212 300 1.110 140 170 812
Sep 2018 220 235 545 140 165 3.150
Aug 2018 220 270 130 135 190 1.192
Jul 2018 235 250 253 140 210 1.747
Jun 2018 235 260 650 135 210 7.394
May 2018 240 265 75 136 210 1.681
Apr 2018 245 290 5 135 175 549
Excl. Buffalo products
Source: NCDFI

The following tables compare the prices of SMP and Butter in the main playing countries in the World, converted into Rs / Kg (Rupees per kilogram). Finally, the charts complete the comparison by adding price trends in India.

/Kg International SMP price
Oceania USA Germany
2021 2022 % vs '21 2021 2022 % vs '21 2021 2022 % vs '21
January 234 288 +22,9% 186 280 +50,1% 204 294 +43,8%
February 233 309 +32,7% 183 304 +66,5% 211 315 +49,0%
March 245 345 +41,1% 186 310 +67,0% 215 336 +56,7%
April 255 347 +35,9% 197 307 +55,7% 227 354 +56,3%
May 257 322 +25,4% 213 300 +40,8% 231 342 +48,0%
June 257 333 +29,8% 210 317 +51,1% 232 343 +48,0%
July 241 204 222
August 227 204 220
September 230 214 232
October 252 237 253
November 268 256 269
December 280 264 283
Average 248 326   213 303   233 331  
SOURCES:
Germany: Süddeutsche Butter - und Käsebörse eV, Kempten
USA: USDA
Oceania: USDA
/Kg International BUTTER price
Oceania USA Germany
2021 2022 % vs '21 2021 2022 % vs '21 2021 2022 % vs '21
January 338 444 +31,3% 217 449 +106,7% 302 492 +63,2%
February 363 481 +32,4% 228 435 +90,9% 321 503 +56,9%
March 409 526 +28,5% 275 459 +66,9% 351 545 +55,1%
April 429 525 +22,3% 299 456 +52,4% 359 591 +64,5%
May 374 479 +28,2% 296 472 +59,6% 352 578 +64,0%
June 345 473 +36,9% 287 505 +76,1% 353 595 +68,4%
July 336 277 337
August 343 273 343
September 353 288 360
October 371 298 421
November 419 325 453
December 437 363 475
Average 378 491   286 462   369 551  
SOURCES:
Germany: Süddeutsche Butter - und Käsebörse eV, Kempten
USA: USDA
Oceania: USDA

Market News World

In calo New Zealand: Milk Production -6,47%
In calo US: Cheese 40# Blocks price -2,56%
In calo US: Butter, Grade AA price -0,85%
In aumento South America: Skim Milk Powder (SMP) price +2,63%
In calo Oceania: Cheddar price -2,59%
In calo Oceania: Whole Milk Powder (WMP) price -0,60%
In aumento Oceania: Skim Milk Powder (SMP) price +1,16%
In aumento Oceania: Butter price (82%) +2,86%

Market News Europe

In calo Western Europe: Whey Powder Sweet price -1,45%
In calo Western Europe: WMP price -2,11%
In calo Western Europe: SMP price -1,61%
In calo Western Europe: Butter price (82%) -0,30%
In aumento Estonia: Farm gate milk price +2,92%
In calo Netherlands: Whey Powder feed price -9,68%
In calo Netherlands: Skim Milk Powder feed price -2,53%
In calo Netherlands: Skim Milk Powder (Adpi-SMP) price -1,23%

Market News Italy

In aumento IT, Verona: foreign Whole Spot Milk price +3,25%
In aumento IT, Verona: foreign Skim Spot Milk price +4,62%
In aumento IT, Verona: Spot milk price +3,15%
In aumento IT, Milan: Spot Milk price from Germany +3,31%
In aumento IT, Milan: Spot Milk price from France +3,48%
In aumento IT, Milan: Spot milk price +3,23%
In aumento IT, Milan: foreign Spot Milk 0,03% price +6,25%
In calo IT: Piave Cheese PDO Production -23,22%
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