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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
51.93USD/100Kg 		3934 Rs/100LT
51.93 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)
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
2020 2021 % vs '20 2020 2021 % vs '20 2020 2021 % vs '20
January 216 234 +8,4% 197 186 -5,6% 208 204 -1,5%
February 215 233 +8,4% 192 183 -4,6% 203 211 +4,0%
March 206 245 +18,9% 181 186 +2,8% 197 215 +9,2%
April 197 255 +29,6% 149 197 +32,4% 164 227 +38,4%
May 191 257 +34,3% 149 213 +43,4% 167 231 +38,9%
June 197 257 +30,3% 169 210 +24,5% 186 232 +24,5%
July 204 241 +18,3% 167 204 +21,8% 187 222 +19,1%
August 209 227 +8,2% 161 204 +26,9% 187 220 +17,5%
September 208 229 +10,2% 166 212 +27,8% 190 229 +20,0%
October 217 182 192
November 208 178 192
December 214 181 199
Average 207 242   173 199   189 221  
SOURCES:
Germany: Süddeutsche Butter - und Käsebörse eV, Kempten
USA: USDA
Oceania: USDA
/Kg International BUTTER price
Oceania USA Germany
2020 2021 % vs '20 2020 2021 % vs '20 2020 2021 % vs '20
January 288 338 +17,4% 299 217 -27,3% 287 302 +4,9%
February 298 363 +21,8% 280 228 -18,7% 280 321 +14,4%
March 318 409 +28,6% 284 275 -3,2% 289 351 +21,8%
April 326 429 +31,6% 204 299 +46,7% 231 359 +55,6%
May 295 374 +26,9% 246 296 +20,1% 238 352 +48,2%
June 275 345 +25,4% 309 287 -7,3% 271 353 +30,4%
July 273 336 +23,1% 279 277 -0,8% 294 337 +14,9%
August 256 343 +33,9% 246 273 +11,2% 302 343 +13,4%
September 251 352 +40,6% 246 290 +17,7% 303 354 +17,1%
October 265 235 300
November 284 226 301
December 300 241 300
Average 286 369   259 270   283 342  
SOURCES:
Germany: Süddeutsche Butter - und Käsebörse eV, Kempten
USA: USDA
Oceania: USDA

Market News World

In aumento South America: Skim Milk Powder (SMP) price +3,28%
In aumento Oceania: Cheddar price +1,16%
In aumento Oceania: Whole Milk Powder (WMP) price +1,34%
In aumento Oceania: Skim Milk Powder (SMP) price +5,60%
In aumento Oceania: Butter price (82%) +3,09%
In aumento US: Acid Casein price +0,59%
In aumento US: Nonfat Dry Milk Price +1,12%
In aumento US: Cheese 40# Blocks price +0,14%

Market News Europe

In aumento Western Europe: WMP price +0,63%
In aumento Western Europe: SMP price +4,84%
In aumento Western Europe: Butter price (82%) +2,58%
In aumento FR, Rhône Alpes: Farm gate milk price +5,51%
In aumento DE, Hannover: Gouda 45% price +1,54%
In aumento DE, Hannover: Edamer 40% price +1,54%
In aumento Germany: Sweet Whey feed quality price +1,03%
In aumento Germany: Skim Milk Powder feed price +1,18%

Market News Italy

In aumento IT, Parma: Churned butter price +5,95%
In aumento IT: Asiago Fresh PDO Production +2,59%
In aumento IT, Milan: Spot Milk price from Germany +1,18%
In aumento IT, Milan: Spot Milk price from France +1,27%
In aumento IT, Milan: foreign Spot Milk 0,03% price +2,04%
In calo IT, Milan: Grana Padano RISERVA PDO (20 months) price -1,60%
In aumento IT, Milan: Pecorino Romano PDO (5 months) price +1,10%
In aumento IT, Milan: Italian Milk Cream price +2,75%
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