The U.S. Dairy Export Council (USDEC) announced that U.S. dairy exports will reach a value of $6.5 billion by the end of 2013 – 25% above the $5.2 billion of 2012. This expansion is being credited to the increasing maturity of U.S. dairy suppliers being ready to take advantage of conditions in overseas markets. Worldwide supplies have declined – production in the EU member states, New Zealand, Australia and Argentina has fallen 2.3% in the first half of 2013 as import demands remain, led by China and Russia. The U.S. is already the largest single-country exporter of skim milk powder, whey and lactose in the world and may overtake New Zealand as the world’s largest cheese exporting country. With the U.S. having a lower cost of production than in Europe and the same or lower than in Oceania, as U.S. suppliers become more customer-centric and broaden their product lines to fit with overseas demands the outlook for U.S. dairy exports is a positive one.
To receive relevant news stories with summaries provided by GAI Research & Insight, subscribe to Global AgDevelopments, our free bi-weekly enhanced eNews service