Australian exports rose 42% YOY in January in milk solids equivalent terms (MSE), and have increased YOY in every month since December 2023.

January cheese exports rose 34.4% YOY, with growth in all key Asian markets led by Japan, but the tonnage was lowest since Nov-24.

SMP exports for the month were up 68% YOY, as exports to SE Asia more than doubled. WMP exports in January declined 47% YOY, but on small volumes. Fat exports rose 159% YOY for the month in commercial butter equivalents – AMF and butter increased by 185% YOY and 146% YOY, respectively.