If you watched any of the 2021 Summer Olympics, you saw some “fast” athletes. U.S. dairy exporters have also had their running shoes on this summer, pushing foreign sales of dairy product and ingredient to a record pace. June export figures, released Aug. 5, align with many of the trends exhibited throughout the first six months of the year, according to a monthly update from the U.S. Dairy Export Council (USDEC).
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Dairy ingredients drove the majority of June’s growth in volume, and higher commodity prices pushed export values up at an even faster pace. Volume basis: Compared to June 2020, year-over-year growth in volume on a milk solids equivalent basis was about 6%. Whey and nonfat dry milk/skim milk powder contributed to a strong dairy ingredient performance, up 16% and 7%, respectively. Cheese exports faltered, down 13%. The three regions on the volume podium (milk solids basis) in June were Mexico, Southeast Asia and China. Through the first six months of the year, the volume of U.S. dairy product exports was estimated at about 1.18 million metric tons (MT), up 12.7% compared to the same period a year earlier. Value basis: Compared to a year earlier, the value of June 2021 U.S. exports grew 15% to $670 million. Through the first six months of the year, the value of U.S. dairy product exports was estimated at about $3.81 billion, up 13.3% compared to the same period a year earlier. Milk ...
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