In 2024, Ukrainian dairy exports increased and outweighed imports
9 January 11:56
According to the results of 2024, dairy exports from Ukraine increased amid a shortage of milk fats and rising prices for butter and other commodities in the world. This was reported by the Parliamentary Committee on Agrarian and Land Policy, citing data from the Association of Milk Producers, Komersant ukrainskyi reports.
For example, in December 2024, 7.23 thousand tons of dairy products were exported for $17.18 million, according to the State Statistics Service of Ukraine. In total, in 2024, Ukraine exported 117.73 thousand tons of dairy products worth USD 295.03 million. Compared to 2023, natural export volumes increased by 8%, and cash revenue by 14%.
The main export goods in monetary terms in December were:
Milk and condensed cream – 32%;
Cheese – 22%;
Butter – 20%;
Milk and cream, not condensed – 9%.
Compared to November 2024, Ukraine has increased its cash revenue for exported milk and cream, not condensed, by 7%, butter by 5%, whey by 30%, and ice cream by 17%. However, over the past month, export revenues for shipped condensed milk and cream decreased by 13%, butter – by 47%, and cheese – by 74%.
In general, in 2024, Ukraine increased export revenues for all commodity items, including milk and cream, condensed and non-condensed, butter, whey, butter, cheese, ice cream, and casein.
What influenced the volume of Ukrainian dairy exports
A certain decrease in exports of dairy products from Ukraine in December was observed due to the traditional slowdown in purchasing activity on the global dairy market during the New Year holidays.
In addition, the export activity of Ukrainian companies at the end of the fourth quarter was restrained by the decline in butter prices in the US, New Zealand and a number of European countries. This also restrained the growth of raw milk prices in the country. The decision of Poland to bring 1 thousand tons of butter from its strategic reserves to the market to help stabilize prices for the product had a certain impact on the decline in butter prices in Europe.
Last year, there was also a shortage of milk fats in the world, and raw milk production declined in different regions. The market for milk fats was unbalanced, with demand outstripping supply.
In 2024, butter prices were the main driver of commodity price growth. Rising global prices for dairy products and the devaluation of the hryvnia contributed to the activity of Ukrainian exporters. Despite an increase in the price of raw milk in Ukraine, it was still lower than European prices, and domestic dairy products, particularly butter, were attractive on foreign markets.
Ukraine also increased imports of dairy products
In 2024, the total natural volume of dairy imports to Ukraine amounted to 60.26 thousand tons, which is 1% more than in 2023.
In monetary terms, imports amounted to USD 290.30 million, which is 9% more than in 2023. Since the beginning of the year, imports of butter to Ukraine in monetary terms have increased by 10%, milk and condensed cream by 11%, cheese by 12%, and ice cream by 22%. Other items saw a decline.
In December, Ukraine imported 7.6 thousand tons of dairy products worth USD 38.72 million. In physical terms, imports increased by 23% compared to November and grew by 30% year-on-year. Cash costs for imported products increased by 25% compared to November this year and December 2023.
In general, in 2024, Ukraine exported more dairy products than imported, as evidenced by a positive balance of $4.73 million.
