Dairy exporter in the US knows how to deal with the expensive dollar

In October, export volume (based on 'dry matter' milk equivalents) increased by 9% to over 824.000 tonnes, compared to the same month last year. The expensive dollar, as a result of the Fed's fairly aggressive interest rate policy, is not an obstacle for American dairy exporters at all.

The most striking is skimmed milk powder, which for the first time managed to exceed last year's export volumes. In October, the US exported just under 73.000 tons, compared to 66.000 tons last year. An increase of 10%. This means skimmed milk powder in volumes by far the most important export product. The increase is striking, because the world market demand for skimmed milk powder is described as weak.

Cheese
Cheese export volumes have been above last year's levels all year long. That trend continued in October when the US sold just 37.000 tonnes across its borders. The majority of this goes to the surrounding countries in Mexico and the Caribbean. South Korea also bought a substantial share. Over the first 10 months of 2022, cheese exports increased by 11,7% to approximately 378.000 tons.

Butter
Butter exports are also showing strong growth figures this year. In October, sales increased to a monthly record volume of 8.600 tons. This is an increase of no less than 70% compared to the same month last year. It should be noted that exports in September briefly dipped below the 2021 level. Canada is the most important butter customer, so the US does not directly hinder European exporters. In the first ten months of 2022, butter exports increased by no less than 42,6% to 20.200 tons.

Wei
High growth rates are also reserved for whey. In October, sales increased by almost 15% to 52.910 tons. Growth will be barely 2022% for the whole of 10. Almost half of this goes to China. The figures show that China is strongly oriented towards the US in terms of whey imports, something that hinders European exporters.