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Exchange rates used in this document: Sep EUR 1 = USD 1.158; Oct EUR 1 = USD 1.117; Nov EUR 1 = USD 1.123

Stable prices in the lactose markets

Europe

Market slows down somewhat

The trading range in lactose widened in recent weeks in an overall more quiet market. Most trades still happen in the EUR 1600-1650 ex works range, but we see frequent outliers at EUR 1700 and above as well. Demand is not as buoyant as it was in 2025 around this time, but it is certainly better than in 2024. 

Americas

Lactose market is balanced

The market feels balanced with OK demand. There was some weakness expected but in the end it did not materialize and most product is still traded in the range of USD 0.70-0.80/lb (1545-1765/t) ex works. Premium products trades at slightly higher levels.

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