In October 2023, Ukraine imported 6.08 thousand tons of dairy products, which is 27.8% more than in September and 35% more than in October 2022, which is the highest figure since March 2022.
According to the Ukrainian Agribusiness Club (UCAB), growth is recorded in all categories of dairy products, but the largest imports are cheese – 3.2 thousand tons. In addition, in October, the volume of butter imports doubled, reaching 619 tons, which is the highest figure since November 2021.
“In total, 48.89 thousand tons of dairy products were imported in 10 months of 2023, which is 6.1% less than in the same period last year, but at the same time, the value is 11.3% higher ($210.2 million),” the UCAB emphasized.
According to the association’s analysts, the volume of dairy exports remained stable for the second month in a row – 8.25 thousand tons, which corresponds to the same period last year. However, in monetary terms, the revenue decreased by 19% to $226.94.
At the same time, UCAB experts noted the intensification of demand in the global dairy market after a nine-month decline in prices. This is confirmed by the FAO index for October and the increase in trading on the Global Dairy Trade: the average value of the FAO Dairy Price Index in October was 111.3 points, which is 2.4 points (2.2%) higher than in September, but still 28 points (20.1%) lower than in the same period last year.
“In October, world prices for milk powder increased the most, mainly due to a sharp increase in import demand under both short- and long-term contracts. An additional factor in the growth of prices for dairy products was the limited supply of milk in Western Europe and some uncertainty about the impact of weather conditions on production in Oceania,” explained UCAB analyst Maxim Hopka.
World butter prices rose under the influence of stronger retail prices before the start of the winter holidays in Western Europe and increased import demand from Northeast Asia. At the same time, cheese prices, on the contrary, slightly decreased due to the weakening of the euro against the US dollar and the growth of export supply from Oceania, UCAB summarized.
