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World 12.02.2024

USDEC reported a 7% decline in milk solids equivalent terms (MSE) for 2023

Source: The DairyNews
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Challenges Persist as Weak Demand and Intensified Competition Constrain U.S. Dairy Exports in 2023, Dairynews.today writes.
USDEC reported a 7% decline in milk solids equivalent terms (MSE) for 2023
freepik.com
Despite U.S. dairy exporters facing persistent challenges throughout the year, including heightened inflation, lackluster economic growth in key markets, and increased competition from the EU and New Zealand, the U.S. Dairy Export Council (USDEC) reported a 7% decline in milk solids equivalent terms (MSE) for 2023.

Factors such as diminished demand for feed whey in China's struggling pig sector, augmented milk output from the EU and New Zealand, and a shift in New Zealand's product mix due to reduced whole milk powder (WMP) purchasing from China further complicated the landscape for U.S. dairy exports.

The U.S. dairy export value concluded the year at $8.11 billion, marking the second-highest value on record. However, this represents a 16% decrease from the record-setting year of 2022, attributed to both reduced volume and prices.

While challenges persisted across various dairy product categories, there were notable exceptions. U.S. suppliers experienced volume gains in high-protein whey (WPC80+) and lactose. Full-year export volume for WPC80+ surged by 18%, reaching a record 75,848 MT. Lactose shipments also saw a significant increase, rising by 5% to a record 471,918 MT, fueled by robust gains in the first quarter.

In contrast, other dairy product categories faced declines in export volume. Nonfat dry milk/skim milk powder (NFDM/SMP) decreased by 3%, cheese dipped by 4%, low-protein whey dropped by 20%, and butterfat slid by 44%. Additionally, milk protein concentrate, fluid milk and cream, and whole milk powder experienced declines of 10%, 7%, and 33%, respectively, for the year.
U.S. dairy exports fall 7 in 2023 - Google Chrome.png
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