According to Freshagenda’s latest monthly Global Dairy Directions Trade Insights report which will be out later in the week, December global trade was on par with the prior year, but with mixed trends across product categories we track – negative for milk powders and AMF, but positive for cheese, whey and butter. After lifting 4.2% in November in milk solid equivalent terms, trade was up just 0.2% in December, bringing shipments over the 2020 calendar year 0.2% below the comparable. Trade in the month was at generally lower prices, particularly for fats and cheese.

South America topped the regional trade league table based on the three months to December, slightly ahead of China & HK, reflecting stronger shipments of WMP, cheese and SMP. North Africa was at the bottom of the table, with weaker imports of milk powders and butter.