India’s dairy exports hit 5-yr high of 152,736 tn in Apr-Feb
Exports of dairy products from India in Apr-Feb hit a five-year high of 152,736 tn worth $404 mln, according to Agricultural & Processed Food Products Export Development Authority data.
In the year-ago period, India exported 86,913 tn dairy products worth $260 mln.
Exports of dairy products surged as the price of milk (with 8.5% fat content) rose more in global markets than in domestic markets, said Kuldppe Saluja of Delhi-based Sterling Agro Industries Ltd.
Milk with 8.5% fat content is largely used in producing ghee, butter, and other dairy products, exporters said.
According to globaldairytrade.info data, Global Dairy Trade Price Index has risen 4.5% since April 2018. The average price of dairy products at the latest auction on Apr 2 was $3,483 per tn.
The index takes into account prices of eight dairy products–rennet casein, butter, lactose, butter milk powder, anhydrous milk fat, cheddar, and skimmed milk powder.
The global dairy industry is also facing supply problems in 2019 due to weaker economic growth, higher prices, lacklustre retail sales, geopolitical conditions, and challenges of climate change, a news report said.
Pressure in milk production will be felt throughout the first half of 2019 and it may hit its lowest number since 2016, Rabobank said in a report.