Foodcom Experts

The global MPC 85 market in 2026 remains highly dependent on processing decisions, technological infrastructure and high-protein food trends. Demand is structural, while supply is constrained by cost, energy and the allocation of milk to competing products.

India's sugar production may turn out to be lower than forecast, reducing exports and affecting domestic prices and global markets.

The WPC 80 market in 2026 remains structurally tight due to limited processing capacity, competition with the WPI segment and low inventories, which maintains elevated price pressure and limited product availability in the spot market.

At the beginning of February, the European dairy market entered a phase of marked price increases for butter, milk powders and proteins, with a continuing tight supply situation, further burdened by epizootic risks in Europe and Asia.

The dairy market is showing increasingly divergent trends: proteins remain the strongest segment, powders are becoming more expensive in the short term, and butter is stabilizing despite high stocks.

China has ended its investigation into subsidies for EU agricultural producers and announced new tariffs on dairy imports from the EU. The maximum rate will be 11.7% and will replace the much higher provisional tariffs previously in place.

High milk supplies are putting pressure on liquid segments, while whey proteins are reaching record price levels. Buyers are mainly focused on securing volumes for late Q1 and Q2, maintaining a cautious approach to the spot market.

The global sugar market enters the 2025/26 season in a phase of oversupply and stock rebuilding, which improves the physical availability of the raw material. At the same time, the market remains sensitive to political and trade decisions, which will be more important for prices in the near term than the crop volumes themselves.

Cocoa growers in Ghana have not been paid for part of the harvest delivered, even though the season is already underway. The lack of money makes it difficult for them to prepare for the next harvest and increases the risk of a drop in production.

High milk supplies are putting pressure on liquid segments, while whey proteins are reaching record price levels. Buyers are mainly focused on securing volumes for late Q1 and Q2, maintaining a cautious approach to the spot market.

The European Union is preparing to impose tariffs on US goods worth up to €93 billion. This is in response to trade threats from the United States and growing political tensions.

India and the European Union are close to concluding their years-long negotiations on a broad trade agreement. According to the Indian side, the agreement could be finalised as early as January 2026.