EU-27 dairy exports were lower in April across all product categories we track except for dry whey and milk & cream. At 71,635t, SMP exports were 12% weaker YOY, with sharp falls in shipments to MENA (particularly Northern Africa) and despite positive trends in China & HK and SE Asia. With lower local manufacture, the stock situation is tight, particularly considering the slow milk growth at the start of the year.

Cheese exports fell 4% YOY to 99,934t – a 3-month low, with stronger trade to all major markets (such as China & HK and non-EU Europe) except the UK (-40% YOY). The expansion in dry whey shipments into China & HK continued into April – for the year to date, EU27 shipments to this key market expanded by 25,451t while overall dry whey exports rose by 11%. Fat exports continued to track lower YOY in April, with butter and AMF falling by 31% and 35% respectively. WMP exports have been patchy in recent months, falling 13% YOY in April and down 7% in the last quarter.

Among other product categories, there were YOY falls in April for infant formula (-26%), MPC (-16%), WPC80 (-26%), lactose (-22%), and FFMP & Mixtures (-6%) but with growth in dry whey (+7%) and milk & cream (+8%).