World: Overseas dairy and milk processing industry trends

Published Jul 24, 2024

Tridge summary

In 2023, global raw milk production rose by 0.9% due to growth in India, China, and Brazil, while major dairy countries are expected to see a slight decline in 2024. Cheese and whole milk powder exports are projected to increase, but butter exports are expected to decrease. The global dairy price index fell in 2023 due to reduced demand and increased export capacity in Western Europe. In 2024, the EU's raw milk production is expected to decrease slightly, the US production to increase, and New Zealand's production to decline. U.S. cheese production is projected to rise by 2.3% in 2024, with export volume increasing by 7.6% driven by demand from Asia. New Zealand's cheese exports are anticipated to decrease due to competition, while global cheese export volume is expected to grow by 2.9%. Whole milk powder exports are predicted to increase by 1.1%, while skim milk powder exports remain unchanged.

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

Original content

[Livestock News Reporter Min Byeong-jin] While last year's raw milk production increased thanks to the growth of countries where dairy farming is rapidly developing, this year's raw milk production in major dairy advanced countries is expected to decline slightly. In the case of dairy exports, cheese exports are expected to increase due to increased demand, but butter is expected to show a decreasing trend. We looked into this through ‘Dairy: World Markets and Trade’ published by the United States Department of Agriculture (USDA). Cheese and whole milk powder exports increase... butter reduction ▲Global dairy product market trends in 2023 According to the United States Department of Agriculture (USDA), global crude oil production in 2023 is estimated at 549.68 million tons, up 0.9% from the previous year due to increased production in India, China, and Brazil. The EU had the highest crude oil production at 144.8 million tons, and the United States had the highest crude oil ...

Source: Chuksannews