February 21, 2008

 

US dairy exports hit all-time high in 2007 on robust demand and high prices

 

 

The export of US dairy products reached an all-time high last year, the first in more than a decade when exports surpassed imports, jumping 62 percent in total value and 23 percent in total volume, attributed to strong global demand and raised prices.

 

According to a year-end data released this week, the US dairy exports set records for both total value and total quantity.

 

The value of the dairy exports reached US$3 billion, a 62-percent rise over 2006. The total quantity of non-fluid products exported jumped to 3 billion pounds, higher than 2006 by 23 percent.

 

The upswing in exports was attributed to greater global demand and also escalating prices.

 

US said that dairy exports surpassing the bulk of imports last year was the first since 1993. Typically, the US dairy exports which are highly-processed only profit through economies of large-scale production.

 

Largest consumers of US dairy products are trading partners Mexico, Canada and Japan, accounting for approximately 40 percent of the total volume.

 

Mexico purchased more nonfat dry milk from the US than any other country.

 

China was a strong market for whey and lactose, while the Philippines was one of the top five buyers of US dairy products with significant purchases of nonfat dry milk.

 

The leading and second-place value products were nonfat dry milk (US$836 million) and whey (US$676 million).

 

Other products, amounting to US$392 million, include cheese and curd (US$387 million) and lactose (US$304 million).