Ukrainian Dairy Exports Maintain Stable Volumes Amid Revenue Growt
Source: The DairyNews
In March, Ukraine's dairy exports showed resilience, with volumes holding steady compared to the previous month while revenue saw an uptick, despite challenges in the global market, reports Georgy Kukhaleishvili, an analyst at the Association of Milk Producers.
According to preliminary data from the State Customs Service of Ukraine, the country exported approximately 8.55 thousand tons of dairy products valued at $118.08 million in March 2024. While natural export volumes remained nearly unchanged from February (+0.35%), they decreased by 11% compared to March 2023. However, revenue from these exports increased by 8% compared to February 2024, though it declined by 12% compared to March 2023.
Throughout the first quarter of 2024, Ukraine exported 25.3 thousand tons of dairy products worth $49.45 million, reflecting a 5% decrease in volume and a 13% decrease in revenue compared to the same period last year.
The main categories driving exports in March included milk and cream (condensed) at 28%, cheeses at 22%, ice cream at 20%, and butter at 14%.
Natural exports of milk and non-condensed cream in March slightly increased by 3% compared to February 2024 but decreased by 9% compared to March 2023. Revenue remained relatively stable compared to last year. Notably, the majority of these exports were shipped to Moldova, with smaller portions going to Armenia and Georgia.
In contrast, exports of condensed milk saw a significant decline, primarily due to reduced supplies to several key destinations such as Israel, Poland, Germany, and Moldova.
Fermented dairy product exports, specifically oiler, witnessed a modest decrease in volume but recorded a substantial increase in revenue compared to the previous month and the same period last year.
Whey exports saw a notable increase in volume compared to March 2023, although there was a slight decline compared to February 2024.
Butter exports experienced a sharp decline in volume compared to the previous year, but revenue increased compared to the previous month.
Cheese and ice cream exports maintained positive growth trends both in volume and revenue compared to the same period last year.
Despite challenges such as reduced consumer activity in foreign markets and increased import competition, Ukrainian dairy producers remain optimistic about future prospects, especially post-Ramadan when demand is expected to rise.
In March, Ukraine imported more dairy products compared to February, with notable increases in cheese and ice cream imports. However, the country's foreign trade balance for dairy products remained negative.
Based on Association of Milk Producers of Ukraine materials
Throughout the first quarter of 2024, Ukraine exported 25.3 thousand tons of dairy products worth $49.45 million, reflecting a 5% decrease in volume and a 13% decrease in revenue compared to the same period last year.
The main categories driving exports in March included milk and cream (condensed) at 28%, cheeses at 22%, ice cream at 20%, and butter at 14%.
Natural exports of milk and non-condensed cream in March slightly increased by 3% compared to February 2024 but decreased by 9% compared to March 2023. Revenue remained relatively stable compared to last year. Notably, the majority of these exports were shipped to Moldova, with smaller portions going to Armenia and Georgia.
In contrast, exports of condensed milk saw a significant decline, primarily due to reduced supplies to several key destinations such as Israel, Poland, Germany, and Moldova.
Fermented dairy product exports, specifically oiler, witnessed a modest decrease in volume but recorded a substantial increase in revenue compared to the previous month and the same period last year.
Whey exports saw a notable increase in volume compared to March 2023, although there was a slight decline compared to February 2024.
Butter exports experienced a sharp decline in volume compared to the previous year, but revenue increased compared to the previous month.
Cheese and ice cream exports maintained positive growth trends both in volume and revenue compared to the same period last year.
Despite challenges such as reduced consumer activity in foreign markets and increased import competition, Ukrainian dairy producers remain optimistic about future prospects, especially post-Ramadan when demand is expected to rise.
In March, Ukraine imported more dairy products compared to February, with notable increases in cheese and ice cream imports. However, the country's foreign trade balance for dairy products remained negative.
Based on Association of Milk Producers of Ukraine materials
23.09.2024
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