Global trade continued to grow in May

by | Jul 21, 2021 | Global, Volume trends

Freshagenda’s latest Global Dairy Directions (GDD) Trade Insights Monthly report shows MSE terms global trade rose 4.8% YOY in May, bringing shipments in the last quarter 7.5% ahead of the comparable. The overall expansion in May was driven by stronger shipments of milk powders (especially WMP) in addition to higher exports of cheese and dry whey, despite slower rates of expansion in these two product categories relative to prior months. Fats remained weak, reflecting higher average shipped prices and weaker import demand in developing regions such as the Middle East and Northern Africa.

China & HK remained at the top of the league table, with massive gains over the last quarter in almost every single product categories we track, led by WMP (+89,000t) and SMP (+65,000t). SE Asia was a distant second, while EU-27 ranked last, reflecting weaker trade of cheese with the UK in the post-Brexit era.