In January, the volume of milk exports of Ukraine was the lowest since March 2022

Dairy

Ukraine

Market & Price Trends

Published Feb 9, 2024

Tridge summary

Ukraine's foreign trade volume in dairy products in January 2024 was $36.9 million, a decrease from December 2023 but an increase from January 2023. Exports decreased to $12.6 million due to factors such as rising raw milk prices and export blockages, while imports cost $24.3 million, leading to a negative trade balance of $11.7 million. High raw material prices are expected to persist in 2024 due to increased fuel and electricity costs. The ongoing war has led to losses for 60% of raw milk producers and increased dairy product prices. In 2023, raw milk production decreased by 5.8%, dairy product exports fell by 30%, and imports rose by over 15%, resulting in a negative export-import balance of $77.2 million.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The volume of foreign trade in dairy products of Ukraine in January 2024 amounted to $36.9 million, which is 13.2% less than in December last year. At the same time, it is 21.8% higher than in January 2023, as reported by the Union of Dairy Enterprises of Ukraine. The export of dairy products in the first month of this year decreased to $12.6 million (-6.8% compared to December and -14% compared to the same period last year). "Dairy export volumes in January 2024 were the lowest since March 2022, the first full month of the full-scale Russian invasion of Ukraine. This was the result of the influence of a number of factors, the key of which is the loss of price competitiveness of domestic dairy products due to the significant increase in the price of raw milk in the last months of 2023, as well as due to the blocking of the export of agri-food, in particular dairy, products from Ukraine," the union explains. As a result, the cost of importing dairy products to Ukraine exceeds the ...

Source: Landlord