In the first five months exports of dairy products increased by 26%

Published 2020년 7월 29일

Tridge summary

Russian dairy exports experienced a 26% increase between January and May 2020, reaching 335 thousand tons and valued at $144.6 million, as reported by the National Union of milk producers (Soyuzmoloko). This represents a historic high, with over a third more than pre-sanction levels, attributed to a 15% ruble weakening and market diversification, especially to China. Despite domestic dairy demand dropping due to lower purchasing power, export growth is expected to persist due to increased raw milk production and high global skimmed milk powder prices. However, dairy exports face risks from the COVID-19 pandemic's impact on global trade, though Soyuzmoloko does not foresee significant risks to the growth rate of Russian dairy exports.

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

Original content

According to the results of January — May 2020, exports of dairy products from the Russian Federation increased by 26%, to 335 thousand tons. In monetary terms, deliveries increased by 16% to $ 144.6 million. The National Union of milk producers (Soyuzmoloko) provided this data to “Kommersant”. In physical terms, export volumes are at a historic maximum and more than a third higher than the levels before the sanctions 2014, it said. The most significant dynamics were shown by whey and skimmed milk powder, whose exports increased five and three times year-on-year, respectively. Supplies of butter from Russia increased by 35%, cheese products - by 30%, ice cream - by 24%, drinking milk and cream - by 22%, cheeses - by 14%. About 91% of deliveries were to CIS countries, and products were also exported to Mongolia, Abkhazia, Georgia, the United States and China. In "Soyuzmoloko" the increase in exports is explained by the weakening of the ruble by 15% at the beginning of the year, ...

Source: Dairy