South Dairy Trade ARGENTINA:
The Argentine dairy market showed mixed performance during the period from August 1 to 15, 2024, compared to the previous fortnight (July 16 to 31, 2024).
During the first half of August, the average price per ton exported increased to 3,506.77 USD, a 3.8% rise compared to the 3,376.76 USD recorded in the second half of July.
However, export volumes dropped significantly. A total of 8,270.55 tons were shipped abroad, representing a 26.1% decrease from the 11,197.76 tons exported in the previous fortnight. This decline may be linked to production adjustments or seasonal changes in supply.
Regarding market diversification, the number of buying countries fell from 29 to 25, which could indicate a slight concentration in key markets.
Whole Milk Powder:
- Price: 3,721.72 USD
- Variation: -1.38%
- Export volume (tons): 3,703.8
Skimmed Milk Powder:
- Price: 3,157.27 USD
- Variation: -1.60%
- Export volume (tons): 818.34
Semi-Hard Cheese:
- Price: 4,535.70 USD
- Variation: +1.77%
- Export volume (tons): 919.68
Hard Cheese:
- Price: 6,468.35 USD
- Variation: +0.45%
- Export volume (tons): 247.60
Butter:
- Price: 5,714.50 USD
- Variation: +12.81%
- Export volume (tons): 595.84
ButterMilk:
- Price: 2,950 USD
- Variation: unchanged
- Export volume (tons): 23.50
Permeate Whey:
- Price: 657.02 USD
- Variation: +1.81%
- Export volume (tons): 618.38
Partially Demineralized Whey (D40%):
- Price: 891.77 USD
- Variation: -10.32%
- Export volume (tons): 757.60
Whey Protein Concentrate 35% (WPC 35%):
- Price: 2,241.41 USD
- Variation: -0.39%
- Export volume (tons): 370.01
Whey Protein Concentrate 80% (WPC 80%):
- Price: 6,992.47 USD
- Variation: -14.28%
- Export volume (tons): 215.80
In the first half of August 2024, Whole Milk Powder accounted for 44.78% of Argentina’s total dairy exports, reaching 3,703.80 tons out of a total of 8,270.55 tons exported. This share represents a slight increase compared to the previous period, in the second half of July, when Whole Milk Powder made up 41.11% of total exports, with 4,603.10 tons out of a total of 11,197.76 tons.
Despite a general decrease in export volumes between July and August, the proportion of Whole Milk Powder within external sales has slightly increased, reflecting sustained demand for this product in international markets. During this period, Brazil and Venezuela emerged as the main destinations, absorbing virtually all of the Whole Milk Powder exports.
This trend highlights the Argentine dairy sector’s reliance on these key markets, particularly Brazil, which has historically been a strategic trading partner.
South Dairy Trade URUGUAY:
The Uruguayan dairy market showed mixed performance during the period from September 1 to 15, 2024. The average price per ton exported rose slightly to 3,701.90 USD, a 1.2% increase compared to the 3,657.75 USD recorded in the previous fortnight (August 16 to 31, 2024). This rise reflects the global upward trend in dairy prices.
In terms of export volume, there was a significant decline. During the first half of September, 9,169.96 tons were exported, a 13.5% decrease compared to the 10,596.53 tons exported in the second half of August. Despite the drop in volume, the number of export destinations remained stable at 30 markets, indicating ongoing diversification.
In summary, the Uruguayan dairy market experienced a price increase, albeit with a lower volume of products exported, which may suggest adjustments in production or moderate external demand.
Whole Milk Powder:
- Price: 3,647.53 USD
- Variation: +1.69%
- Export volume (tons): 7,944.87
Skimmed Milk Powder:
- Price: 2,787.39 USD
- Variation: -8.80%
- Export volume (tons): 26.58
Semi-Hard Cheese:
- Price: 4,776.80 USD
- Variation: -3.66%
- Export volume (tons): 240.80
Hard Cheese:
- Price: 6,782.08 USD
- Variation: -4.48%
- Export volume (tons): 151.50
Butter:
- Price: 5,943.83 USD
- Variation: +1.73%
- Export volume (tons): 381.21
ButterMilk:
No exports were registered during this period.
Partially Demineralized Whey (D40%):
- Price: 1,057.64 USD
- Variation: -10.49%
- Export volume (tons): 425
In the first half of September 2024, Uruguayan exports of Whole Milk Powder played a dominant role, accounting for 86.64% of the total dairy products sent abroad. Of the 9,169.96 tons exported during this period, 7,944.87 tons were Whole Milk Powder. This percentage represents a slight increase compared to the previous fortnight (August 16 to 31), when Whole Milk Powder accounted for 83.45% of exports, with 8,843.18 tons out of a total of 10,596.53 tons exported.
Despite the overall drop in total export volume in September, Whole Milk Powder remains the cornerstone (if not the sole focus) of Uruguayan dairy exports. Brazil continues to be the main destination for this product, as usual, consolidating its role as a strategic partner for Uruguay’s dairy industry. However, the growing presence of markets in Africa stands out, with countries such as Nigeria, Algeria, Egypt, Angola, Senegal, and Mauritania emerging as key buyers of Uruguayan Whole Milk Powder.
This landscape reflects a diversified strategy in placing dairy products, strengthening Uruguay’s position in African markets, a crucial factor in mitigating demand fluctuations in more traditional markets.
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