Tridge summary
Global dairy trade is expected to drop by 3.4% in 2022, the first decrease in almost two decades, primarily due to a significant decrease in imports to China and supplies to Nigeria, Vietnam, and the Russian Federation. This reduction might be partially balanced by increased purchases from the Philippines, Indonesia, Great Britain, the European Union, and Mexico. The decline in imports to China is attributed to decreased catering activity, increased domestic milk production, and high stocks. New Zealand, the EU, Belarus, and Turkey are among the leading exporters expected to reduce trade volumes, while Mexico, India, Argentina, and the US might increase trade volumes. The global butter trade is projected to grow by 6.2% in 2022, while trade in whole milk powder, skimmed milk powder, and whey powder is expected to decline by 6.4%, 3.5%, and 5.6%, respectively, mainly due to reduced purchases by China.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Global trade in dairy products is forecast to reach 85 million tons (in milk equivalent) in 2022, which is 3.4% less than in 2021. This is the first drop in almost two decades, which is mainly caused by a sharp drop in imports to China, as well as a projected decrease in supplies to Nigeria, Vietnam and the Russian Federation. Infagro project partner Maksym Fasteev writes about this in the Telegram channel TvoiMolochnyZanuda. This reduction in imports is likely to be partially compensated by possible larger purchases from the Philippines, Indonesia, Great Britain, the European Union and Mexico. In China, the decline in catering activity, due to associated with COVID-19 containment measures, increased domestic milk production and high stocks may lead to a reduction in imports of approximately 15% (over 3 million tons in milk equivalent). This mainly applies to whey and milk powder. Due to reduced global demand, trade volumes are expected to decline from several leading exporters, ...
Source: Agrotimes
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