According to Freshagenda’s latest monthly Global Dairy Directions Trade Insights report, July exports rose 5.7% YOY in milk solids equivalent (MSE). Trade in the six months to July was just 0.8% above the prior-year, affected by declines in every month between January and April. The YOY declines in MSE global trade were however shrinking consistently toward mid-year, aided by lower prices for fats and milk powders. In July, global trade trends were mixed across product categories we track – positive for WMP, SMP, cheese, whey, milk & cream and lactose, and negative for fats and infant formula.

North Africa held its position as the region with the biggest import growth over the July quarter, mostly due to healthy demand for WMP and SMP, but also butter and cheese. North America is anchored at the foot of the trade league table, mostly due to weaker AMF, cheese and whey shipments over the quarter.