Triple boost for Irish powder exports amidst US infant formula shortage

Published 2023년 1월 12일

Tridge summary

Irish specialized nutritional powder exports to North America, particularly to the US due to an infant formula shortage, saw a trebling in value in 2022, contributing to a 12% growth in Irish dairy exports to the region. The US also led a 68% increase in casein powder exports. Despite these challenges, the EU remained the largest market for Irish goods, with the UK being the largest single market. However, Bord Bia warns of a challenging market environment in 2023 due to inflationary pressures and macroeconomic conditions, with the impact of input costs being a key factor in pricing across some sectors.

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

Original content

Production challenges in the US have been a key driver behind an increase in specialized nutritional powder exports from Ireland to North America, with values more than trebling in 2022. The share of Irish dairy exports to the region also grew by 12%, reaching around €800m (US$860m). About 10% of this (€80m/US$86m) came from specialized nutritional powder exports, with the US driving demand for the commodity due to the ongoing infant formula shortage, now expected to last until spring 2023. “There was a significant increase seen in specialized nutritional powders, particularly in the US as reduced availability of domestic supplies saw product being airfreighted into the market during the early summer to satisfy demand,” reflected David Kennedy, senior sector manager, dairy, at Bord Bia. “Production challenges in the US served to drive import demand there and across the globe. Ireland benefited from this directly with the value of trade to the market more than three times 2021 ...

Source: Dairyreporter