Eagle Summit Corporation Increases Whole-Milk Powder Trading
Near term contracts for milk powder rose 15 percent to $4,960 a metric ton over two weeks. Due to increased demand in Asia, prices have gained 41 percent over the past three months.
- (1888PressRelease) March 22, 2011 - Whole-milk powder prices surged to a record on sustained demand from China. This raises concerns about rising input and feed costs that may curb supply, potentially boosting inflation.
Near term contracts for milk powder rose 15 percent to $4,960 a metric ton over two weeks. Due to increased demand in Asia, prices have gained 41 percent over the past three months. This adds to the challenges faced by central bankers in India and China to restrain record food prices while maintaining growth. These rising food costs have contributed to the riots that have swept Tunisia and Egypt.
The dairy market in the Middle East and Asia was growing at about four percent to five percent a year and markets were likely to remain strong as rising incomes boosted demand. India could represent the next major growth area in the region after China.
Market experts at Eagle Summit Corporation expect that prices will go higher and they're really getting to the levels where they were at all-time highs in 2008. Whole-milk powder for delivery from June through August rose 12.3 percent. Powder for shipment from September through November increased 2.6 percent. Across all contracts, prices gained 9.5 percent. The Eagle Summit Team will devote a significant portion of its Commodity Trading Fund III to agricultural commodities.
-About Eagle Summit Corporation-
Founded in 2005 and based in Cyprus, the goal at Eagle Summit Corp is a simple one: to work with talented entrepreneurs and management teams to develop ground-breaking products and build substantial business enterprises around them. We have raised a series of partnerships, with current committed capital in excess of $450 million, and helped build hundreds of companies, 60 of which have gone on to successful IPOs and more than 45 of which have gone on to successful mergers.
-Contact Info-
Hector Kosko
Eagle Summit Media Coordinator
press ( @ ) eaglesummit dot com
www.eaglesummitcorp.com
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