Belarus Milk Exports Surge Ninefold in 2024, Driving Record Sales through Exchange

According to BUCE, the fourth quarter saw a 22% rise in exchange prices for skimmed milk powder (SMP) shipped to Russia, reaching 257 rubles per kilogram. For the Eurasian Economic Union (EAEU), CIS, and third countries, SMP prices increased by 12% to $2.47 per kilogram. This growth reflects sustained demand from foreign buyers for most types of dairy products.

Meanwhile, butter prices declined due to intensified competition in the Russian market, which saw increased imports from India, Iran, and Turkey aimed at curbing inflation.

BUCE reported that market conditions allowed Belarusian exporters to set prices above those recommended by the Ministry of Agriculture and Food. Some lots attracted bids from up to six foreign buyers, enabling Belarusian dairy processors to secure additional revenue even during periods of reduced demand.