After a winter of discontent hampered by logistical problems and other coronavirus-related challenges, U.S. agricultural exporters added some spring to their steps, with March 2021 global sales setting a strong pace on several fronts. Dairy products: New records Whether measured by volume, value or percentage of production, the first quarter of 2021 ended with a shower of good news for dairy product exports, according to a monthly update from the U.S. Dairy Export Council (USDEC).
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Southeast Asian demand for U.S. dairy continues to run hot. The U.S. has steadily grown market share in that area over the past year, overtaking New Zealand and the European Union to become the largest market share holder in milk solids exports, USDEC reported. The strong growth in March can partially be attributed to a “rubber band” effect, where product was purchased potentially months ago and was finally able to find its way onto a boat for March delivery. Ongoing port issues remain a key obstacle for continuing the export growth in the region. However, despite these challenges, U.S. dairy is well-positioned to continue growing exports to the region and capturing increased market share, USDEC said. Thanks to signs of some economic recovery from the COVID-19 pandemic, a pickup in U.S. dairy exports to Mexico also signaled renewed optimism and should support U.S. dairy exports in the months ahead. Volume basis: The USDEC data shows March 2021 dairy product exports totaled 215,557 ...