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Skimmed Milk Powder Prices, Demand and Supply Overview
Skimmed milk powder is dehydrated skimmed milk with the fat removed and about 35 percent protein. It is used in reconstituted and recombined milk, bakery, confectionery, chocolate, infant and nutrition products. The EU, New Zealand, the US and Australia lead exports, while China, Algeria, Mexico, Indonesia and the Philippines are the main importers.
Prices rose through 2026. Global Dairy Trade skimmed milk powder opened the year at USD 2,564 per tonne in January 2026, reached USD 3,547 in May 2026, dipped to USD 3,234 in July and recovered to USD 3,689 in September 2026, up 44 percent on the year.
Skimmed Milk Powder Prices in October 2026
Skimmed milk powder was USD 3,689 per tonne at the September 2026 GDT event, and EU prices were about USD 3,491 per tonne in September 2026, down about 30 percent on a year earlier. The price outlook is shaped by three key drivers.
- Fonterra: Fonterra cut its 2026/27 farmgate milk price midpoint in July 2026 after an 11 percent fall in GDT reference prices, then raised it in September 2026 citing improved whole and skimmed milk powder results.
- Milk supply: EU milk deliveries rose 3.3 percent in January to July, and USDA raised its 2026 US milk output forecast to 107.6 million tonnes in September 2026.
- Hormuz: Middle East war disruption has pushed EU dairy shipments to Southeast Asia onto longer routes via the Cape of Good Hope.
Supplier news: Lactalis Australia said in July 2026 it will close its Longwarry plant in Victoria, which makes milk powders at about 40 percent utilisation, in stages from August 2026, November 2026 and the first quarter of 2027, affecting 53 permanent and casual staff, with output moving to Darnum. FrieslandCampina reported in July 2026 first half operating profit down 25 percent, with milk supply up 19 percent after the Milcobel merger and above processing capacity. Fonterra announced in September 2026 a three year South Island protein expansion. Short term, firm auctions support prices. Long term, rising EU and US output caps gains.
Skimmed Milk Powder Price Forecast for H2 2026
Widespread dairy price gains, driven by European holiday demand, Oceania's tight supplies, and South America's strong export commitments, show some sign of persisting through H2 2026 across every market tracked. Raw milk production levels in key exporting regions should remain a key source of quarter-to-quarter movement.
A further tightening of Oceania milk supply, or accelerating export demand from Asian and Middle Eastern importers, could be what pushes prices above this forecast. A particularly strong milk production season, or softer seasonal demand, could be what keeps the market closer to the lower end instead.
| Region | 2026 Price Range | Outlook |
| Global Average | 2,980 - 3,300 | Widespread dairy price gains support continued firmness |
| Germany | 3,200 - 3,400 | European holiday demand maintains the top spot |
| Brazil | 3,080 - 3,250 | Strong export commitments support firm pricing |
| New Zealand | 2,900 - 3,050 | Tight Oceania supplies sustain gains |
| United States | 2,850 - 3,000 | Steady demand keeps the United States the most affordable |
For the Quarter Ending June 2026
Skimmed Milk Powder Prices Q2 2026:
- Germany: USD 3,260.00/MT
- Brazil: USD 3,140.00/MT
- New Zealand: USD 2,950.00/MT
- United States: USD 2,900.00/MT
Skimmed Milk Powder Prices in Germany
Germany stayed the priciest market by a clear margin, with the price moving from about USD 3,200.00/MT to near USD 3,260.00/MT, a gain of just above 1.9%. It was continued firm European holiday-season demand, together with steady export interest, that carried the increase.
Why did the price of Skimmed Milk Powder change in Q2 2026 in Germany?
European holiday demand has continued supporting dairy consumption broadly, and it is this seasonal pull, combined with steady export interest from European processors, that has kept German pricing at the top of the range this quarter.
Skimmed Milk Powder Prices in Brazil
The Brazilian price moved from about USD 3,080.00/MT to near USD 3,140.00/MT, a gain of just above 1.9%. It was continued strong export commitments, together with steady domestic processing demand, that carried the increase.
Why did the price of Skimmed Milk Powder change in Q2 2026 in Brazil?
South America's strong export commitments have continued supporting pricing, and it is this demand, combined with steady domestic processing consumption, that has kept Brazilian pricing climbing in close step with the broader global market this quarter.
Skimmed Milk Powder Prices in New Zealand
The New Zealand price moved from about USD 2,900.00/MT to near USD 2,950.00/MT, a gain of just above 1.7%. It was continued tight Oceania supplies, together with steady export demand, that carried the increase.
Why did the price of Skimmed Milk Powder change in Q2 2026 in New Zealand?
Oceania's tight supplies have continued supporting pricing, and it is this scarcity, combined with steady export demand from Asian and Middle Eastern importers, that has kept New Zealand pricing on a gradual upward path.
Skimmed Milk Powder Prices in United States
The United States price moved from about USD 2,850.00/MT to near USD 2,900.00/MT, a gain of just above 1.8%. It was steady domestic demand, together with typical seasonal supply conditions, that carried the increase.
Why did the price of Skimmed Milk Powder change in Q2 2026 in United States?
Domestic demand from food processing and export channels has held its usual steady pace, and it is this consistency, combined with typical seasonal supply patterns, that has kept United States pricing on a gradual upward path this quarter.
For the Quarter Ending March 2026
Skimmed Milk Powder Prices Q1 2026:
- Germany: USD 3,200.00/MT
- Brazil: USD 3,080.00/MT
- New Zealand: USD 2,900.00/MT
- United States: USD 2,850.00/MT
Skimmed Milk Powder Prices in Germany
The price reached close to USD 3,200.00/MT in Q1 2026, a rise of just above 1.6% from Q4 2025. It was firm European demand, together with steady export interest, that pushed the market higher.
Why did the price of Skimmed Milk Powder change in Q1 2026 in Germany?
Widespread dairy price gains were recorded globally this quarter, driven by regional factors including European holiday demand, and it was this demand, meeting steady export interest, that drove the German increase.
Skimmed Milk Powder Prices in Brazil
The price reached close to USD 3,080.00/MT in Q1 2026, a rise of just above 2.0% from Q4 2025. It was South America's strong export commitments that pushed the market higher.
Why did the price of Skimmed Milk Powder change in Q1 2026 in Brazil?
Widespread dairy price gains were recorded globally this quarter, driven by regional factors including South America's strong export commitments, and it was this demand, meeting steady domestic supply, that drove the Brazilian increase.
Skimmed Milk Powder Prices in New Zealand
The price reached close to USD 2,900.00/MT in Q1 2026, a rise of just above 1.8% from Q4 2025. It was Oceania's tight supplies that pushed the market higher.
Why did the price of Skimmed Milk Powder change in Q1 2026 in New Zealand?
Widespread dairy price gains were recorded globally this quarter, driven by regional factors including Oceania's tight supplies, and it was this scarcity, meeting steady export demand, that drove the New Zealand increase.
Skimmed Milk Powder Prices in United States
The price reached close to USD 2,850.00/MT in Q1 2026, a rise of just above 1.8% from Q4 2025. It was steady demand, together with typical seasonal supply conditions, that pushed the market higher.
Why did the price of Skimmed Milk Powder change in Q1 2026 in United States?
Demand from food processing and export channels held steady entering the year, and it was this consistency, meeting typical seasonal supply patterns, that drove the United States increase.
Quarterly Price Trends
This market climbed steadily across every quarter tracked here. Close to USD 2,797.00/MT in Q1 2025 rose to about USD 2,850.00/MT, near USD 2,920.00/MT, and close to USD 2,955.00/MT by Q4, before continuing to about USD 3,007.50/MT in Q1 2026 and near USD 3,062.50/MT in Q2. That is a rise of roughly 9.5% across the window, tracking widespread global dairy demand closely.
| Quarter | Price | QoQ Change | Direction |
| Q2 2026 | 3,063 | +1.8% | ↑ Rising |
| Q1 2026 | 3,008 | +1.8% | ↑ Rising |
| Q4 2025 | 2,955 | +1.2% | ↑ Rising |
| Q3 2025 | 2,920 | +2.5% | ↑ Rising |
| Q2 2025 | 2,850 | - | - Stable |
| Q3 2026 | In Progress | - | - In Progress |
Annual Price Review 2025
It was steady demand from food processing and export channels, meeting seasonal dairy demand cycles across every market tracked, that drove the consistent 2025 climb. The global average opened near USD 2,797.00/MT in Q1 and climbed to close to USD 2,955.00/MT by Q4, a rise of just above 5.6% for the year, with every quarter posting a gain.
Skimmed Milk Powder Prices in Germany, 2025
The German price climbed from about USD 2,688.00/MT in Q1 2025 to near USD 3,150.00/MT by Q4, a rise of just above 17.2% for the year, holding the highest absolute cost among the four markets tracked throughout. It was firm European demand, meeting steady export interest, that drove the sustained climb through 2025.
Skimmed Milk Powder Prices in Brazil, 2025
The Brazilian price eased from about USD 3,050.00/MT in Q1 2025 to near USD 3,020.00/MT by Q4, a decline of just above 1.0% for the year, essentially flat, before the firmer conditions that followed into 2026. It was steady domestic processing demand, meeting generally adequate supply, that kept Brazilian pricing broadly stable through 2025.
Skimmed Milk Powder Prices in New Zealand, 2025
The New Zealand price climbed from about USD 2,800.00/MT in Q1 2025 to near USD 2,850.00/MT by Q4, a rise of just above 1.8% for the year. It was steady export demand, meeting generally balanced supply conditions, that drove the gradual climb through 2025.
Skimmed Milk Powder Prices in United States, 2025
The United States price climbed from about USD 2,650.00/MT in Q1 2025 to near USD 2,800.00/MT by Q4, a rise of just above 5.7% for the year, the smallest absolute cost among the four markets tracked throughout. It was steady demand from food processing and export channels that drove the gradual climb through 2025.
How Expert Market Research Can Help
The Skimmed Milk Powder market depends on raw milk supply and international dairy trade flows, so Expert Market Research tracks raw milk production levels in key exporting regions closely alongside seasonal demand cycles and export commitments from major supplying regions across the four markets covered here. This is combined with trade flow data to build the forecasts. Should the Skimmed Milk Powder pricing data or procurement strategy support be needed, the team is ready to help.
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Frequently Asked Questions About This Report
It serves widely in food processing, bakery, confectionery, and infant formula applications, and is also reconstituted for direct consumption.
As of Q2 2026, Germany averages near USD 3,260.00/MT, Brazil about USD 3,140.00/MT, New Zealand close to USD 2,950.00/MT, and the United States roughly USD 2,900.00/MT. Germany remains the priciest of the four markets tracked.
The price kept climbing, from close to USD 2,955.00/MT in Q4 2025 up to about USD 3,007.50/MT in Q1 2026, then near USD 3,062.50/MT in Q2, a gain of just above 1.8%. Widespread global dairy price gains drove both quarters.
Widespread dairy price gains were recorded globally, driven by regional factors including European holiday demand, Oceania's tight supplies, and South America's strong export commitments, a combination that has lifted skimmed milk powder pricing broadly.
The global average is likely to run in the USD 2,980 to 3,300/MT range, with widespread dairy price gains continuing to support firmness through the back half of the year.
Germany carries the highest cost on European holiday demand. Brazil sits close behind on strong export commitments, New Zealand in the middle on tight Oceania supplies, and the United States prices lowest thanks to steady, unremarkable demand.
The figures here are updated monthly. Real-time pricing is available directly from the team.
Raw milk production levels in key exporting regions sit at the core. Seasonal demand cycles including holiday consumption, and export commitments from major supplying regions, add further influence.
The United States, Brazil, and New Zealand rank among the leading producers, with the United States, Brazil, and India also representing significant consuming markets.
Raw milk production reports from major exporting regions like Oceania are usually the earliest signal worth tracking, since supply tightness there feeds directly into global pricing. Watching seasonal demand cycles, particularly around European holiday periods, also helps anticipate price movements before they reach quoted levels.
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