EEX Press Release - EEX sets new annual record for European Dairy Futures trading

    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 exchange achieved double-digit growth rates in the established dairy futures contracts: 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 equaling 137,820 tonnes).

    EEX’s product portfolio for the agricultural markets includes financially settled futures on dairy products as well as processing potatoes. The 2022 volume for Potato Futures amounted to 16,444 contracts, a 13% decrease compared to 2021. Nonetheless, EEX’s agricultural markets saw a 25% growth in 2022 with 57,981 contracts traded compared to the previous year (46,290 contracts).

    Sascha Siegel, Head of Agricultural Commodities EEX, notes: “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.“

    The European Energy Exchange (EEX) is the leading energy exchange in Europe which develops, operates and connects secure, liquid and transparent markets for energy and related products. As part of EEX Group, a group of companies serving international commodity markets, EEX offers contracts on Power, Natural Gas and Emission Allowances as well as Freight and Agricultural Products. EEX also provides registry services as well as auctions for Guarantees of Origin, on behalf of the French State.

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