World trade in dairy products will decrease by 3.4% in 2022

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, ...