Australia Whey & Products insights

From December 2023, Australia's dairy exports show consistent annual growth in milk solids equivalent, with cheese, milk powder and milk fat contributing significantly to growth.

This year, the world has seen a decrease in the production of raw milk under the influence of the weather and as a result of the increase in the cost of production. In Ukraine, milk yields began to fall from the end of June due to the heat and long-term power outages caused by Russian missile strikes on energy infrastructure facilities. A reduction in the supply of raw milk and a shortage of milk fat contributed to the increase in raw milk prices in various regions.

On the supply side, we see declines in the growth of the global milk pool, influenced by factors such as the increasing sustainability agenda and increasing cost of production. Alongside this we see a movement towards increasing components (fat and protein content of milk) as opposed to just production.