FAS Issues July 2010 Update on World Dairy Trade
The Foreign Agricultural Service has issued a July 2010 report on world dairy trade. While the U.S. has long been an attractive market for dairy imports, in recent years, imports both on a fat and skim milk equivalent basis have…
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been declining. In terms of fat basis imports, this decline has been particularly pronounced with respect to cheeses. It appears that the historically attractive price margin created by high U.S. cheese prices relative to world prices has diminished leading foreign exporters to shift their focus to emerging markets. For skim solids, U.S. imports dropped rapidly in 2009 and are expected to drop further in 2010. Imports of skim solids are largely accounted for by casein, milk protein concentrates and whey products. The same factors affecting cheese imports are probably responsible for skim's fall.