Commodities tracker

first_imgDairy market forecasters are warning that bakers can expect a sharp increase in dairy prices over the next few weeks and throughout the summer as global prices reach an all time high.Market prices for commodities such as butter and especially milk powders have increased by 30-75% over the past six months, can industry source told British Baker.Drought conditions in Australia and New Zealand also caused milk production to fall by 10% last season and is predicted to be down a further 30% next season.This is one of many contributing reasons for the recent price hikes, which have seen milk increase from 18p a litre to 25p in just six weeks.Global intervention stock levels, which are normally used in times of shortages to keep prices at a reasonable level, have already been exhausted, says the source.Milk processing businesses are diverting more milk back towards the commodity products, where the current returns are greater than those from foodservice and retail products like fresh milk, cream, yoghurt and cheese.To avoid creating an imbalance in the market, all dairy-based products will have to undergo price increases.Dairy commodity product prices and milk prices paid to farmers have been rising over the past six months, says the source. But dairy manufacturers have absorbed these rises by taking a cut in margins.Now, however, price hikes are unavoidable for manufacturers, who are being forced to past these costs onto end users, such as bakery companies.last_img read more

Residential development continues to grow with a lift in the number of cranes on the skyline

first_imgCrane numbers are increasing on the Brisbane skyline.RESIDENTIAL development continues to grow with a lift in the number of cranes on the Brisbane skylineAccording to the latest Rider Levett Bucknall crane index, the number of cranes on the skyline highlight the continuing strength of the construction industry.Nationally the index has increased by 5 per cent.This was the highest level of cranes since the group started recording the activity in 2012.The latest report found a total of 685 cranes on projects across Australia with Brisbane and the Gold Coast accounting for 116 of those.It revealed almost all capital cities, with the exception of Canberra and Darwin, had experienced a rise in crane numbers in the past six months.“The residential sector continues to dominate the skylines across Australia with 551 cranes representing 80 per cent of all cranes commissioned on future residential dwellings,’’ according to the report.More from newsMould, age, not enough to stop 17 bidders fighting for this homeless than 1 hour agoBuyers ‘crazy’ not to take govt freebies, says 28-yr-old investorless than 1 hour agoMary Lane Residences is one of the projects which has helped lift Brisbane crane numbers.Brisbane accounted for 12 per cent of the cranes on the national skyline.The report found nationally new projects starting were responsible for another 339 cranesbeing erected since the previous report.“This augers well for a strong pipeline of construction work over the next six to twelvemonths across the country,’’ the report said.In Brisbane crane numbers are up 5 per cent.“The amount of construction work currently being undertaken in Queensland remains positive with residential work still growing although non-residential fell for the year,’’ the report said.There are currently 85 cranes around Brisbane with new cranes installed at Mary Lane in Mary Street and The Wellington in East Brisbane.On the Gold Coast crane numbers were up 4 per cent. to 31.last_img read more