Market Intel Team|30 January 2023
- Shipments to Australia reached a record high in December as milk production continues to struggle throughout the country caused by weather and negative margins, but propelled by farmers leaving the business for the past five years. Whole milk powder accounted for the highest market share into Australia (5,226MT, +37% YoY), but the cheese and butter gains over prior year were the strongest. Cheese exports to Australia jumped 135% from prior year to 5,112MT and butter increased 101% from a year ago to 4,358MT.
- Another record worth noting was that New Zealand’s total cheese exports reached an all-time high in December. The largest jump was shown into China, UP 71% from prior year to 12,076MT – the highest since December 2020. After China and Australia (mentioned above), impressive gains were also observed to South Korea (4,742MT, +66% YoY), followed by Japan (6,791MT, +22% YoY). Shipments to South Korea were the highest to the country on record.
- Skim milk powder exports remained above prior year levels for the fourth consecutive month primarily due to larger shipments to China, UP 8,487MT (+71% YoY). Exports to Southeast Asia also increased versus the previous year driven by larger volumes to Indonesia (+1,969MT or +60%), Vietnam (+1,503MT or +90%), and Malaysia (+1,038MT or +49%) but declined to Singapore (-778MT or -35%) and Thailand (-166MT or -12%%). Exports to Algeria were also impressive and increased by 5,277MT from 0MT the same time last year helping to boost total exports for the month well above volumes seen in previous years.
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