DCA Market Intelligence publishes a weekly benchmark price for Whole Milk Powder (WMP). The benchmark represents the prevailing market level for Whole Milk Powder in Northwestern Europe (NWE). The specifications of this benchmark price are described below.
Product description
Quality
Whole Milk Powder, food-grade, of good standard merchantable quality made by the spray process directly and exclusively from cow's milk. Compliant with EU legislation.
| Milkfat | between 26% and 28% |
| Protein in fat free dry matter | between 34% and 40% |
| Moisture | maximum of 4% |
| Scorched particles (ADPI) | Disc A |
| Shelf life | minimum of 12 months after production |
| Heat treatment | pasteurised prior to evaporation and spray-drying |
| Packaging | multiwall paper bag with PE inner liner, 25 kg net weight |
Quantity
Minimum of one full truckload.
Timing
Picked up within one month of the assessment date.
Delivery terms
Ex Works.
Unit
EUR/metric ton (1,000 kg).
Methodological framework
This benchmark specification follows the DCA General Methodology, which outlines processes including data hierarchy, validation, use of expert judgement, and governance. The benchmark is administered in accordance with the IOSCO Principles for Financial Benchmarks and DCA’s internal compliance framework. Operational validation and weighting techniques are applied in line with the DCA General Methodology. Detailed controls are not disclosed publicly for confidentiality and data integrity reasons.
Origin and regional scope
Region
For DCA benchmarks, the region Northwestern Europe (NWE) is defined as the Netherlands, Belgium, Luxembourg, northern France, and northern Germany. This benchmark is produced for and applies to transactions within NWE, reflecting the principal zone of active market participation used by DCA for regional benchmarks.
Origin of input data
The origin of the input data is Belgium, the Netherlands, Luxembourg, France, and Germany. These markets are part of the NWE region and represent the core supply base for this benchmark.
Price definition
The benchmark reflects the average price excluding commission and VAT of transactions completed during the assessment period (Friday of the preceding week through Thursday of the current week). Prices are rounded to the nearest €5, in line with the Public Methodology Summary.
Calculation method
Prices are based on validated data provided by professional market participants, primarily consisting of concluded transactions within the defined assessment window. Submissions are reviewed for accuracy and consistency; statistical checks identify outliers, which are excluded from the calculation while all submissions remain recorded in DCA’s internal system.
While DCA may consider the indicative volume associated with each transaction, all validated prices are aggregated using a transparent arithmetic mean rather than a proprietary weighting formula. The benchmark value is determined and published through DCA’s controlled Price Reporting System in accordance with the DCA General Methodology.
Data collection window and publication
Price input is collected on Thursday from 09:00 until 15:00 CET. The benchmark price is published on Thursday at 15:30 CET. In the event of a public holiday, the collection and publication schedule follows the Public Holiday Schedule published on the DCA platform.
Complaints and feedback
Any questions or complaints regarding this benchmark may be submitted to DCA Market Intelligence via pra@dcami.com, in line with the DCA Complaints and Appeals Procedure (see Public Methodology Summary).
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