The European Energy Exchange’s (EEX) Dairy Derivatives Market set a new record in 2022. The total trading volume grew by 51% to 41,537 contracts (equivalent to 207,685 tonnes of goods) compared to 27,449 contracts (representing 137,245 tonnes of goods) in 2021.
The volume in Butter Futures rose to 14,206 contracts (71,303 tonnes), an 24% increase compared to the previous year. EEX recorded strong growth in Skimmed Milk Powder Futures, which grew by 70% to 25,325 contracts (126,625 tonnes) and in Whey Powder Futures, which soared 74% to 2,006 contracts (equivalent to 10,030 tonnes of goods).
By 21 September 2022, EEX had already exceeded the previous annual record. By that day, the cumulative trading volume had already exceeded 2017 as the prior record-holding year for annual trading volume (27,564 contracts equalling 137,820 tonnes).
Said Sascha Siegel, Head of Agricultural Commodities, EEX: “2022 was a year in which trading on our Dairy futures market developed extremely well. This development shows that companies are increasingly using exchange traded risk management instruments. This helps market participants in the European value chain to hedge against price fluctuations in milk and dairy products.” For more visit eex-group.com