EU-27 exports in December 2021 reflected the tighter product availability across the board and weaker UK demand for cheese and fats. Cheese exports had the mildest decline of the big commodities falling 1.8% in the month after steeper falls in the previous 2 months, which pulled the 2021 exports just 0.5% lower than 2020. UK shipments were 9% weaker and 12% lower over H2-2021. Nth America remained a solid market, 6% higher in the month and up 4% over H2-2021.

SMP shipments were 15% weaker in the month, a gradually worsening comparison with the prior year, which pulled 4th quarter exports down 10% year-on-year. Of its major markets, only Nth Africa remained in touch with prior year volumes, while shipments to China halved in the month (H2-2021 exports were 18% lower) and SE Asian trade was 9% down in the month and 14% weaker in the half.