DCA Market Intelligence publishes a weekly benchmark price for Anhydrous Milk Fat (AMF). The benchmark represents the prevailing market level for Anhydrous Milk Fat in Northwestern Europe (NWE). The specifications of this benchmark price are described below.
Anhydrous Milk Fat from cream or butter, exclusively from cow's milk, of good standard merchantable quality. Compliant with EU legislation.
| Milkfat | minimum of 99.8% |
| Moisture | maximum of 0.1% |
| Free fatty acids (as oleic acid) | maximum of 0.3% |
| Peroxide value (meq O₂/kg fat) | between 0.3% and 0.6% |
| Shelf life | at least 12 months, preferably up to 24 months |
| Packaging | various, such as bulk containers (IBC) or 190-210 kg steel drums (food-grade) |
Minimum of one full truckload.
Picked up within one month of the assessment date.
Ex Works.
EUR/per metric ton (1,000 kg).
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.
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.
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.
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.
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.
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.
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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Version: December 2025