Argentine Dairy Market Ends July with Increase in Exports and Prices
South Dairy Trade: Dairy Prices in Argentina and Uruguay Report and Analysis
South Dairy Trade: Dairy Prices in Argentina and Uruguay Report and Analysis

South Dairy Trade ARGENTINA:

Argentine Dairy Market Ends July with Increase in Exports and Prices

The Argentine dairy market closed the second half of July with positive results, showing an increase in the average export price and a significant growth in the volume sent abroad. Between July 16 and 31, 2024, the average price of exported dairy products reached USD 3,376.76 per ton, surpassing the average of the first half of the month (USD 3,322.82/ton).

During this period, Argentina exported 11,197.76 tons of dairy products to 29 international destinations, expanding its market to two new countries and exceeding the volume exported in the first half of July by more than 37%. The results reflect a clear expansion of the sector, driven by demand for products such as milk powder, cheese, and butter. This upward trend highlights the Argentine dairy market’s ability to adapt and grow in a competitive global context.

Whole Milk Powder:
● Price: USD 3,773.85/ton
● Variation: Decreased by 0.32% compared to the previous period.
● Export Volume: 4,603.10 tons

Skim Milk Powder:
● Price: USD 3,208.72/ton
● Variation: Increased by 0.39% compared to the previous period.
● Export Volume: 1,051.72 tons

Semi-Hard Cheese:
● Price: USD 4,456.95/ton
● Variation: Increased by 2.30% compared to the previous period.
● Export Volume: 1,283.73 tons

Hard Cheese:
● Price: USD 6,439.64/ton
● Variation: Increased by 0.99% compared to the previous period.
● Export Volume: 371.70 tons

Butter:
● Price: USD 5,065.38/ton
● Variation: Decreased by 7.14% compared to the previous period.
● Export Volume: 534.38 tons

Buttermilk:
● Price: USD 2,950.00/ton
● Variation: Decreased by 1.67% compared to the previous period.
● Export Volume: 23.50 tons

Permeate Whey:
● Price: USD 645.29/ton
● Variation: Increased by 0.23% compared to the previous period.
● Export Volume: 862.40 tons

Partially Demineralized Whey (D40%):
● Price: USD 994.35/ton
● Variation: Decreased by 19.88% compared to the previous period.
● Export Volume: 1,171.80 tons

Whey Protein Concentrate 35% (WPC 35%):
● Price: USD 2,250.13/ton
● Variation: Decreased by 0.01% compared to the previous period.
● Export Volume: 1,035.03 tons

Whey Protein Concentrate 80% (WPC 80%):
● Price: USD 8,157.44/ton
● Variation: Increased by 5.49% compared to the previous period.
● Export Volume: 260.40 tons

South Dairy Trade URUGUAY:

Uruguay Increases Dairy Export Volume in the Second Half of August

In the second half of August 2024, the Uruguayan dairy sector recorded a notable increase in export volume, sending 10,596.53 tons of dairy products to 30 international destinations, surpassing the figures from the first half of the month by 26.3%. Despite this increase, the average price per ton decreased by 1.41%, reaching USD 3,657.75.

In August, Uruguay exported a total of 18,983.35 tons of dairy products, reflecting growth in its ability to place products in international markets. The significant rise in export volume highlights the sector’s capacity to expand and respond to global demand, consolidating its position in a fluctuating price environment.

Whole Milk Powder:
● Price: USD 3,568.36/ton
● Variation: Decreased by 1.82% compared to the previous period.
● Export Volume: 8,843.18 tons

Skim Milk Powder:
● Price: USD 3,103.71/ton
● Variation: Increased by 2.73% compared to the previous period.
● Export Volume: 972.24 tons

Semi-Hard Cheese:

● Price: USD 5,358.75/ton
● Variation: Increased by 3.74% compared to the previous period.
● Export Volume: 170.59 tons

Hard Cheese:
● Price: USD 6,599.89/ton
● Variation: Increased by 3.81% compared to the previous period.
● Export Volume: 96.69 tons

Butter:
● Price: USD 5,818.35/ton
● Variation: Decreased by 2.15% compared to the previous period.
● Export Volume: 413.83 tons

Buttermilk:
● Price: No exports recorded during this period.

Partially Demineralized Whey (D40%):
● Price: USD 1,054.90/ton
● Variation: Decreased by 7.55% compared to the previous period.
● Export Volume: 100 tons

A notable aspect is that, in the second half of August, whole milk powder alone exported 8,843.18 tons, exceeding the total tonnage of all products exported in the first half of the month. This figure not only reflects a greater export capacity but also indicates a consolidation and increase in demand for whole milk powder in key international markets, including Brazil, Nigeria, and Algeria.

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Rabobank is predicting a $9.70/kg MS dairy forecast for the 2024-25 season, up from $8.60/kg MS in its previous quarterly report.

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