Global dairy market in October 2021

In October, milk powder prices increased in all global export regions, excluding South America. New Zealand's milk powder competitors from Uruguay and the EU may increase their Chinese market share due to stable prices, while Belarus experienced a decrease in catfish exports to China but a doubling of exports to Russia. Dry whey prices rose due to increased demand in the US and Asian markets, despite potential Chinese pig production issues. Ice cream exports from Russia experienced seasonal decline but grew to the US, Belarus, and Ukraine. There was a drop in China's dairy product imports in September, but a rebound is expected in October due to increasing demand for dairy products. Butter prices in Western Europe rose significantly in October, and a increase in New Zealand supplies could stabilize the Russian market. Russia's cheese imports grew by 14% in the first eight months of 2021, reducing its reliance on imports for most dairy products, except cheeses, fermented milk, and children's products. Belarus saw an increase in cheese exports to Russia in August.