- Butter exports remained below prior year levels for the fifth consecutive month in October driven by lower demand from Saudi Arabia (-604MT or -61%), Morocco (-1,128MT or -93%), and the United Arab Emirates (-403MT or -55%). However, exports to the US increased by 846MT (+41%) as high US prices prompted the country to begin importing more fat. Exports also increased to Switzerland (+251MT or +155%), South Korea (+106MT or +13%), and Australia (+229MT or +144%) but were not enough to overcome significant losses to other countries.
- Whole milk powder exports fell to the lowest volume since December 2018. Year-to-date exports are DOWN 56,497MT (-22%) as weak demand and higher prices compared to New Zealand during the summer months kept buyers away from European markets. In October, major declines were seen to Nigeria (-1,575MT or -76%), Algeria (-2,351MT or -93%), and the United Arab Emirates (-846MT or -89%). Exports increased to Oman (+1,811MT or +116%) and the Dominican Republic (+865MT or +268%), while shipments to Kuwait climbed by 1,750MT, up from 0MT recorded the same time last year, pushing the country to hold the third highest in market share. However, marginal declines to a large number of other countries resulted in a net loss in exports for the month.
- Infant formula exports increased to 50,517MT in October, the highest volume recorded since June 2020 and driven primarily by shipments to China, UP 9,078MT (+50%) over the prior year. Despite declines to Saudi Arabia (-511MT or -21%), Russia (-511MT or 45%), and Hong Kong (-531MT or -51%), higher shipments to the United States (+1,935MT or +820%), Iraq (+924MT or +109%), Egypt (+874MT or +175%), and the United Arab Emirates (+417MT or +131%) helped to push exports higher.
View Our Complete Analysis Here: October 2022 EU-27 + UK Dairy Export Volume Analysis
View Our Complete Analysis Here: October 2022 EU-27 + UK Dairy/Milk Production Analysis
