In January-August 2024, Ukraine increased its foreign trade in dairy products by 7.9% to $307 compared to the same period last year, the Union of Dairy Enterprises of Ukraine (UDEP) reported on its Facebook page.
According to the report, the negative balance of exports and imports of dairy products slightly increased compared to the same period last year and amounted to -$32.6 million against -$31.2 million. At the same time, imports were 1.24 times higher than exports; in January-August 2023, this excess was 1.25 times.
According to analysts, exports in January-August 2024 increased to $137.3 million, which is 8.3% higher than in the same period last year.
The growth in exports compared to the previous year was recorded for fermented milk products (+27% in physical terms and +32% in value), whey (+43% and +38%, respectively), and cheeses of all kinds (+40% and +31%, respectively).
At the same time, exports of butter and milk fats decreased significantly (-25%), while the drop in value amounted to 9%, which is explained by a significant increase in prices for these products this year.
Experts noted that import volumes in January-August 2024 increased by 7.6% compared to the same period last year – up to $170 million. At the same time, growth is observed in the categories of butter and milk fats – 2.3 times in volume terms, twice in value terms, as well as cheeses (+8% in volume terms).
Ukraine also reduced imports (in physical terms) of milk and cream not condensed (drinking) by 3.3 times, whey by 28% and fermented milk products by 16%, the UGCC summarized.
