The summer months are now a distant memory as we have gone just past Halloween and the clocks are turned back. It has been a relatively stable year for dairy pricing if we compare to the manic last few years. There are various political headwinds however at the moment related to the dairy industry and in the longer term it does look like there will be a significant struggle to maintain adequate levels of production. More governments across the world are continuing to look at ways of restricting milk output as they aim to meet sustainability targets. The COP 28 summit is coming up at the end of November and is taking place in Dubai this year. We can expect to see plenty more discussions on carbon emissions at this event and dairy is sure to be top of the agenda!
Current Market Situation
The market has been relatively quiet over Q3 and a lot of buyers seem to have covered their requirements at keen pricing when the market was at a low ebb…
Irish Nitrogen Derogation Issue
There is concern within the Irish dairy industry as the EU announced a cut on Ireland’s derogation on application of nitrogen per hectare from 250kg to 220kg
Middle East Conflict: Oil/Commodity Prices
The world hopes we see an end to the conflict soon and let the humanitarian disaster stop. In an economic sense the conflict creates a great deal of uncertainty with the potential to spread to surrounding countries.
This will be the final market report of the year and we can reflect on a much less volatile year than the ones before. They were less volatile in pricing terms as we didn’t have to deal with the constant dramatic price increases which seemed to be the norm in the post covid/post Ukraine war world we lived in. This is welcome news for buyers of dairy as prices had reached an unsustainable level for many. However, the worry is now that farmers may come under serious pressure with the fall in milk prices as they still have to deal with inflationary pressures. Hopefully those concerns don’t come to harsh fruition but there are already signs that the continued uncertainty in the dairy sector is affecting long term confidence.
At Ingredient Solutions we are continuing to perform well in a challenging market and we are looking forward to 2024. We are well prepared to deal with any market volatility if it does arrive and our customers know they can always rely on us to be there whenever they need us. We wish everyone a strong finish to the year. It’s a bit early yet for festive wishes so for the meantime we hope everyone enjoys a prosperous build up and if you need anything do not hesitate to reach out to us.
Your Sincerely
Ian Galletly
Managing Director
Catherine’s role is Technical Assistant and she is one of the newer members of the Ingredient Solutions team. Catherine recently graduated in Food Science and Innovation at WIT and is motivated, positive and enjoys working in a team. Catherine says, “I always see the good in every challenge that approaches me as they can lead to opportunities to learn more.” She is looking forward to focusing on the areas that she can control and learning how to perfect them.
Ted is the Factory Manager, he is the man that keeps everything running smoothly, supporting production and technical operations. He ensures that all the machinery within the factory functions at maximum efficiency and is properly maintained.
Suma has worked for Ingredient Solutions for two years as Technical Manager – leading the technical team. Before working for Ingredient Solutions, Suma worked in Asia, the Middle East and Europe and has over twenty years experience in management and leadership in food and other industries.
Pina is our UK Sales Support Administrator and has worked for Ingredient Solutions since 2012. She works alongside Gary Davies and the sales team providing them with sales information and supporting the team especially when they are on the road. Pina works remotely for Ingredient Solutions from her base in Luton in the UK.
Marek is based near Lublin, that’s not a typo we don’t mean Dublin, he’s our man on the ground in Eastern Europe.
