UK: The first quarter of the dairy trade review, exports were mostly flat, and imports were on the uptick

Published May 23, 2024

Tridge summary

UK dairy exports experienced a slight decline in Q1 2024, with a total volume of 327,000 tons, due to a drop in non-EU exports. Despite this, there was growth in exports of cheese, whey, and yogurt. The majority of exports were to the EU, with Ireland, Netherlands, and Spain being the main contributors. However, exports to Belgium, France, and Poland saw a decline. Overall import volumes increased by 5.7% to 271,000 tons, driven by increases in milk, cream, and yogurt imports. The UK government has launched a £1 million program to support dairy exporters, focusing on value-added products like cheese. The trade flow is expected to be influenced by global economic and geopolitical developments and the availability of dairy products in the global markets.

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

Original content

Total export volumes of dairy products from the UK have declined marginally in Q1 2024. Total export volume for Q1 2024 was 327,000 t, a decline of 2,300 t year-on-year. The level of EU exports remained almost at par, while exports to non-EU destinations declined by 2,300 t. However, cheese, whey and yogurt saw significant year-on-year growth. This was driven by exports to both EU and non-EU nations. Cheese exports are the highest recorded in a quarter since 2020. Exports of cheese products saw the largest increase of 9,800 t followed by whey and whey products at 2,900 t respectively. Exports of yogurt registered an increase of 1,700 t while exports declined across other products in the basket. Cheese prices have been softening since the beginning of this year, making it attractive for buyers. EU nations contribute more than 90% of total exports. Ireland (+3,600 t), Netherlands (+1,300 t), Spain (+600 t) were the major contributors to growth. However, exports to Belgium, France ...

Source: Ahdb