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Global milk market. Demand is growing again

Światowy rynek mleka. Popyt ponownie rośnie

According to the Association of Bavarian Milk Producers (VMB), sales of butter/oil and whey powder increased in March compared to the previous month, while sales of cheese, skimmed milk powder, whole milk powder and condensed milk were lower compared to February.

The cheese trade is gaining momentum

Accordingly, the overall trading volume increased in the first quarter of 2024 compared to the same period last year – due to good sales in January and February. This was especially true for whole milk powder, but also for cheese and whey powder.

According to VMB, although global trade in some dairy products weakened in March, the balance for the first three months is still largely positive. The largest share in this was the volume of cheese trade on the world market, which, compared to the same period last year, increased by almost 7.0%, to 745,000. tone.

In contrast to lower demand from the UK, a major cheese importer, and Japan, the US and EU have increased cheese imports. The EU-27, as the largest exporter, exported cheese to almost the same extent as in the first quarter of 2023. Market observers noted higher exports to the USA with an increase of 22%, Great Britain with an increase of 23%. and Australia with an increase of 30%.

Impulses from the whole milk powder market

Demand in the whole milk powder trade has also increased. Global trading volume increased by approximately 23%. to approximately 588 thousand tons compared to the first three months of the previous year. China turned out to be the most important recipient in terms of volume. According to VMB research, during the first three months, purchasing interest shifted towards whole milk powder and, to a lesser extent, skimmed milk powder. Brazil and Saudi Arabia also had greater needs. New Zealand benefited from this, with exports increasing by a third and making the country the largest exporter of whole milk powder in the world.

Sales of whey powder also increased. However, the largest countries exporting it, i.e. The EU27 and the US lost some trade volumes, while Turkey and the UK were able to increase their exports. Importers such as Indonesia, Malaysia and Japan have shown greater interest in purchasing. In total, according to VMB, approximately 4.0 percent was exported worldwide. more whey powder than in the first three months of 2023.

Losses in skimmed milk powder

However, there were losses in the export of skimmed milk powder: with an export volume of approximately 618 thousand tons, the value in the same period of the previous year was about 5.5 percent. lower than the value reported by VMB. China itself demanded almost 30 percent less skimmed milk powder than a year ago. Increased demand from Indonesia, Malaysia and Thailand was unable to offset the decline in demand from China.

Exports of skimmed milk powder from the EU-27 decreased by approximately 10%. Previously, European deliveries were among the largest in the world, but have now been overtaken by US deliveries.

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