Weekly Product Updates

W30: Dairy Update

Cow Milk
Market & Price Trends
Published Aug 4, 2023

In W30 in the dairy landscape, Tridge’s analysis indicates that the global dairy industry is divided into regions such as Europe, the United States (US), Oceania, Asia, South America, and Africa. Dairy product trade mainly occurs within these regions due to milk's perishability. Only 5% of global cow milk production is traded on the global market. However, products with longer shelf life, such as skim milk powder (SMP) and cheese, register some intra-regional trade. The EU and the US are the biggest cheese exporters by value, accounting for over half of global cheese exports in 2021.

China, Saudi Arabia, the United Kingdom (UK), Japan, Mexico, and the US are major cheese importers. The global cheese export trade is expected to remain stable in 2023, with import demand declining in some countries but increasing in others. The cheese market is projected to grow to USD 323.75 billion in 2027, driven by domestic, sustainable, and organic food production demand. Overall, while dairy commodity markets are regionally segmented, there remains a strong market for exportable products like cheese, with growing demand in the retail and food services sectors.

The Department of Agriculture and Food Resources in the Vologda Oblast region in Russia indicates that gross milk production in breeding farms reached 232 thousand metric tons (mt) in the first half of 2023. This is an increase of 5% year-on-year (YoY) and accounts for 76% of the region's total milk output. The breeding dairy herd's productivity was 4,851 kilogram (kg), 443kg higher than the regional average. Milk productivity was the highest in Prisukhonskoye SHPK in the Vologda District with an average milk yield of 5,888kg per cow, Monza LLC in the Mezhdurechensky District with 5,833kg per cow, and Rus SPK in the Sheksninsky District with 5,762kg per cow.

Lastly, the National Institute of Statistics (INS) reports that cow’s milk collection from processing units in Romania reached 512.74 thousand mt in the first five months of 2023. This is a 13.2% increase compared to the same period in 2022. Notably, cheese production registered the most significant increase (+1.6%), while acidified dairy products (yogurt, drinking yogurt, buttermilk, and more) experienced the most significant decrease (-9.4%). Additionally, raw milk import volumes by processors decreased by 38.3% from January 1 to May 31, compared to the same period in 2022. Cow's milk collected by processing units increased by 16.7% month-on-month (MoM) and 12.7% YoY in May-23, with acidified dairy products showing the highest increase in production (+29.5%). However, raw milk import volumes by processing plants decreased by 1.9% MoM and 35.7% YoY in May-23. 

By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.