July exports rose 11.2% YOY in milk solids equivalent (MSE) terms, the eleventh consecutive monthly increase. MSE exports increased 13.9% in the last quarter, led by SMP, butter and cheese.

      SMP exports were also strong – at a six-year high for the month of July – but were down on the prior month.  SMP exports continued to improve and were up 15.2% YOY in July. Indonesia, Vietnam, Nigeria, Yemen and Malaysia accounted for most of the incremental increase. Shipments to Algeria, China, Egypt Saudi Arabia and the UAE declined YOY. WMP exports increased on a low prior-year comparable, up 9.7% YOY.

Cheese exports rose 7.1% to 134,334t, reflecting stronger shipments to Japan, MENA, the UK, South America and the CIS. With higher production, exportable surplus and competitive prices, butter exports leapt 42.6% YOY in July, while average shipped FOB prices continued to decline. Exports to the US fell 7.0% YOY to 6,891t.

FFMP exports were virtually flat as weaker shipments to the Middle East offset stronger sales to Sub-Saharan Africa.