DCA Market Intelligence publishes four distinct weekly benchmark prices Skimmed Milk Powder Food-grade (SMP Food), suitable for human consumption. Each benchmark represents the prevailing market level in its respective region:
| SMP Food (NWE) | Northwestern Europe |
| SMP Food (NL/BE) | the Netherlands and Belgium |
| SMP Food (DE) | Germany |
| SMP Food (FR) | France |
Each benchmark reflects market conditions specific to its region. The specifications of these benchmark prices are described below.
Skimmed Milk Powder, food-grade of good standard merchantable quality made by the spray process directly and exclusively from skimmed cow's milk. Compliant with EU legislation.
| Milkfat | maximum of 1.25%, up to 1.50% by agreement |
| Protein in fat free dry matter | minimum of 34% |
| Moisture | maximum of 4% |
| Scorched particles (ADPI) | Disc A |
| Heat treatment | pasteurised prior to evaporation and spray-drying |
| Shelf life | minimum of 24 months after production |
| Packaging | multiwall paper bag with PE inner liner, 25 kg net weight |
Minimum of one full truckload.
Picked up within one month of the assessment date.
Ex Works.
EUR/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.
DCA applies the following regional scopes for SMP Food benchmarks. Each benchmark represents market conditions within its respective region and reflects the main zone of active market participation used by DCA.
| Northwestern Europe (NWE) | the Netherlands, Belgium, Luxembourg, northern France, and northern Germany |
| Netherlands/Belgium (NL/BE) | transactions within the Netherlands or Belgium; reflects core cross-border trade flows in this area |
| Germany (DE) | transactions within Germany; reflects the main German trade flows relevant to DCA benchmarks |
| France (FR) | transactions within France; reflects the main French trade flows relevant to DCA benchmarks |
| SMP Food (NWE) | The Netherlands, Belgium, Luxembourg, France, and Germany. These markets are part of the NWE region and represent the core supply base for this benchmark. |
| SMP Food (NL/BE) | The Netherlands and Belgium. These markets jointly provide the core supply base for this benchmark. |
| SMP Food (DE) | Germany. Inputs from professional participants active in the main German trade flows form the core supply base for this benchmark. |
| SMP Food (FR) | France. Inputs from professional participants active in the main French trade flows form 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).
© DCA Market Intelligence B.V. All rights reserved.
Version: December 2025