Global milk market; demand is growing again

Published 2024년 7월 9일

Tridge summary

The Association of Bavarian Milk Producers (VMB) reports a mixed performance in dairy product sales in March 2024, with increases in butter/oil and whey powder sales but decreases in cheese, skimmed milk powder, and whole milk powder sales compared to February. Despite global dairy trade challenges in March, the first quarter saw an overall increase in trading volume from the previous year, led by cheese and whole milk powder. The cheese trade experienced a significant 7% increase, with the US, EU, and EU-27 increasing cheese imports. Whole milk powder demand rose by approximately 23%, with China as the primary importer, making New Zealand the largest exporter. Whey powder exports also increased, with Indonesia, Malaysia, and Japan showing greater interest. However, skimmed milk powder exports saw a 5.5% decrease, with a significant 30% drop in demand from China, which could not be offset by increased demand from Indonesia, Malaysia, and Thailand. EU-27 skimmed milk powder exports decreased by about 10%.

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

Original content

According to the Association of Bavarian Milk Producers (VMB), sales of butter/oil and whey powder increased in March compared to the previous month, while sales of cheese, skimmed milk powder, whole milk powder and condensed milk were lower compared to February. The cheese trade is gaining momentum Accordingly, the overall trading volume increased in the first quarter of 2024 compared to the same period last year - due to good sales in January and February. This was especially true for whole milk powder, but also for cheese and whey powder. According to VMB, although global trade in some dairy products weakened in March, the balance for the first three months is still largely positive. The largest share in this was the volume of cheese trade on the world market, which, compared to the same period last year, increased by almost 7.0%, to 745,000. tone. In contrast to lower demand from the UK, a major cheese importer, and Japan, the US and EU have increased cheese imports. The ...

Source: Farmer.pl