Uruguay's Dairy Exports Surpass $850 Million

Uruguay achieved a notable milestone in 2024 as the country\'s dairy exports surpassed $850 million. The revenue generated from the export of dairy products showed a modest increase of 0.5% compared to the previous year, according to the report by the Instituto Nacional de la Leche (Inale).

Breakdown of Export Figures

The performance of various dairy products was mixed. Revenues from whole milk powder and cheese experienced a decline, while there was an increase in the sales of skimmed milk powder and butter. Specifically, whole milk powder revenues declined by 1% to $563.7 million, cheese saw a decrease of 9% to $105.3 million, while skimmed milk powder and butter increased by 36% to $55.1 million and 28% to $70.6 million, respectively.

Main Export Destinations

Brazil has consolidated its position as the leading market for Uruguay\'s dairy exports, absorbing 36% of the total exports over the past year. Following Brazil, Algeria accounted for 26% of the exports, with Mexico, Russia, Chile, and others constituting smaller shares.

Market Observations

In terms of the international market, significant price fluctuations were observed. For example, whole milk powder and butter saw substantial price increases in December 2024 when compared to the same month in 2023, with rises of 11% and 38% respectively. Meanwhile, the price for skimmed milk powder decreased by 11%, and cheese prices fell by 1%.

The report emphasizes the importance of the Brazilian market, especially for whole and skimmed milk powder and cheese, while identifying Russia as the primary buyer of Uruguayan butter.