Australian Skim Milk Powder Production Set to Rise in 2024
Source: DairyNews.today
Australia is expected to see a significant increase in skim milk powder (SMP) production in 2024, with output projected to reach 170,000 tons.
This represents a 17% rise fr om the previous year, according to the latest USDA Dairy World Markets and Trade report. The anticipated growth is driven by an overall boost in milk production and the need to manage larger volumes of milk during peak periods, which has led to increased SMP production.
Dairy processors are adjusting their production strategies to balance SMP and butter output, as both products are typically produced concurrently. The increased availability of milk has necessitated higher production levels for both SMP and butter.
Export Trends
Australia’s SMP exports are also set to rise, with forecasts indicating a 20% increase to 160,000 tons in 2024. China and Indonesia are major markets for Australian SMP, though recent shifts show a reduction in exports to China being compensated by growing demand from countries such as Vietnam, Thailand, Malaysia, and Saudi Arabia. Despite this shift, China remains an important market, although its increasing domestic milk production has reduced its reliance on imported SMP.
These developments reflect a broader trend in the Australian dairy sector, wh ere production adjustments and export strategies are evolving to meet changing global demands and market dynamics.
Dairy processors are adjusting their production strategies to balance SMP and butter output, as both products are typically produced concurrently. The increased availability of milk has necessitated higher production levels for both SMP and butter.
Export Trends
Australia’s SMP exports are also set to rise, with forecasts indicating a 20% increase to 160,000 tons in 2024. China and Indonesia are major markets for Australian SMP, though recent shifts show a reduction in exports to China being compensated by growing demand from countries such as Vietnam, Thailand, Malaysia, and Saudi Arabia. Despite this shift, China remains an important market, although its increasing domestic milk production has reduced its reliance on imported SMP.
These developments reflect a broader trend in the Australian dairy sector, wh ere production adjustments and export strategies are evolving to meet changing global demands and market dynamics.
23.09.2024
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