Uruguay's Dairy Exports Surge Amid Global Price Recovery

Uruguay's dairy industry witnessed a notable increase in export activity in March 2026, following a period of restrained trade. The country exported 22,240 tons of dairy products in March, the highest monthly volume since November, representing a 51% rise compared to February.

During the first quarter of 2026, Uruguay exported a total of 56,668 tons of dairy products, valued at an average of USD 3,694 per ton. This volume indicated a 5% decline fr om the same period in 2025, with a slight 0.7% decrease in average value per ton.

A strategic decision by the Uruguayan dairy industry to hold back exports at the beginning of the year was influenced by low prices observed in late 2025. This approach was based on expectations of a price recovery, which materialized by March 2026, as seen in the Global Dairy Trade platform wh ere whole milk powder prices rose by 22% from USD 3,161 per ton in December to USD 3,863 per ton in March.

Within the export product mix, whole milk powder, which comprised 68% of the total volume, saw a 3% annual increase. In contrast, skimmed milk powder exports dropped by 31%, and cheese exports fell by 10%, whereas butter exports grew by 25% annually to 3,312 tons.

Notably, despite traditional trade disruptions with Russia, Saudi Arabia emerged as the leading butter importer with 1,075 tons, representing 32.5% of Uruguay's butter exports. Meanwhile, Algeria maintained its dominance as the primary market for whole milk powder, with nearly 20,000 tons shipped, accounting for 47% of the total exports by mid-April 2026.