Analysis from Freshagenda’s Global Dairy Directions platform indicates global trade declined 4.5% compared to the prior year comparative in January in milk solids equivalent (MSE) terms. That was the fourth consecutive monthly contraction, reflecting higher market prices, falling milk growth and low global export availability. It brought trade in the January quarter 2.5% below the prior year comparable.

In terms of products, stronger cheese and butter shipments not nearly enough to offset declining trade in milk powders (particularly SMP), dry whey and AMF. The stronger milk powders and butter trade kept Nth Africa at the top of our league table based on the most recent quarter, ahead of the CIS which holds its place due to the growth in cheese and dry whey trade.