Australian dairy exporters take advantage of strengthening global markets

Published 2024년 10월 7일

Tridge summary

Australian dairy exports have experienced a significant increase, with a 14.9% rise in value and 12.8% rise in volume in July, according to Dairy Australia. This surge is attributed to strengthening global dairy markets, increased milk production in Australia, and higher global prices. The export data shows a massive increase in butter exports, a rebound in skim milk powder, and a 49% increase in cheddar exports. The Food and Agriculture Organisation's Dairy Price Index for September was 21.7% higher than the previous year, driven by higher prices across all dairy products, especially whole milk powder. This increase is due to strong import demand in Asia and limited export availabilities in Western Europe. Rabobank remains positive about the market trends in Oceania, and ASB has increased its forecast for the New Zealand farmgate milk price above $NZ9 a kilogram milk solids.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Australian dairy exporters are taking advantage of strengthening global dairy markets, the latest export data from Dairy Australia reveals. Australian dairy exports for July jumped 14.9 per cent in value and 12.8pc in volume, the DA export report showed. Dairy exports for July were worth $323 million compared with $281 million for the same month last year. Butter exports led the way - up a massive 224pc in volume and 231pc in value. Skim milk powder has also rebounded - with volumes up 103pc and the value up 72pc. Australia exported 49pc more cheddar in July 2024 compared with July 2023, worth an extra 40pc. Exporters appear to be taking advantage of Australia's increased milk production and improving global prices. Prices were up 1.2pc at the latest Global Dairy Trade auction on October 1. Whole milk powder was up 3pc, cheddar 3.8pc, buttermilk powder 5pc and lactose 6.7pc. Although other commodities recorded declines, they are still well up on a year ago. The Food and ...

Source: Farmweekly