South Africa Sees 4% Increase in Average Price of Cheese and Curd, Reaching $4,238 per Ton

South Africa Cheese And Curd Export Price in June 2023

In June 2023, the cheese and curd price amounted to $4,238 per ton (FOB, South Africa), growing by 3.6% against the previous month. In general, the export price, however, recorded a relatively flat trend pattern. The growth pace was the most rapid in November 2022 an increase of 9.8% m-o-m. The export price peaked at $4,356 per ton in January 2023; however, from February 2023 to June 2023, the export prices stood at a somewhat lower figure.

Prices varied noticeably by the country of destination: the country with the highest price was Namibia ($5,014 per ton), while the average price for exports to Lesotho ($2,218 per ton) was amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for supplies to Namibia (+1.1%), while the prices for the other major destinations experienced a decline.

South Africa Cheese And Curd Export Prices by Type

Average prices varied somewhat for the major types of exported product. In June 2023, the highest price was recorded for prices to cheese, blue-veined (not grated, powdered or processed) ($4,860 per ton) and cheese, other than blue-veined, grated, powdered or processed ($4,459 per ton), while the average price for exports of fresh cheese (unripened or uncured cheese), including whey cheese and curd ($3,587 per ton) and processed cheese (excluding grated or powdered) ($3,779 per ton) were amongst the lowest.

From June 2022 to June 2023, the most notable rate of growth in terms of prices was recorded for the following types: cheese, blue-veined (not grated, powdered or processed) (+0.4%), while the prices for the other products experienced mixed trend patterns.

South Africa Cheese And Curd Exports

In June 2023, cheese and curd exports from South Africa reduced to 1K tons, waning by -11.5% on the previous month's figure. In general, exports, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in November 2022 when exports increased by 53% m-o-m. As a result, the exports attained the peak of 1.5K tons. From December 2022 to June 2023, the growth of the exports failed to regain momentum.

In value terms, cheese and curd exports fell to $4.4M (IndexBox estimates) in June 2023. Over the period under review, exports showed a relatively flat trend pattern. The growth pace was the most rapid in November 2022 when exports increased by 68% against the previous month. As a result, the exports reached the peak of $6.3M. From December 2022 to June 2023, the growth of the exports failed to regain momentum.

South Africa Cheese And Curd Exports by Type

Cheese, other than blue-veined, grated, powdered or processed (668 tons) was the largest type of cheese and curd exported from South Africa, with a 64% share of total exports. Moreover, cheese, other than blue-veined, grated, powdered or processed exceeded the volume of the second product type, processed cheese (excluding grated or powdered) (193 tons), threefold. The third position in this ranking was held by cheese of all kinds, grated or powdered (104 tons), with a 10% share.

From June 2022 to June 2023, the average monthly rate of growth in terms of the volume of export of cheese, other than blue-veined, grated, powdered or processed totaled +1.5%. With regard to the other exported products, the following average monthly rates of growth were recorded: processed cheese (excluding grated or powdered) (-0.2% per month) and cheese of all kinds, grated or powdered (-4.5% per month).

In value terms, cheese, other than blue-veined, grated, powdered or processed ($3M) remains the largest type of cheese and curd exported from South Africa, comprising 68% of total exports. The second position in the ranking was taken by processed cheese (excluding grated or powdered) ($731K), with a 17% share of total exports. It was followed by cheese of all kinds, grated or powdered, with a 9.7% share.

From June 2022 to June 2023, the average monthly growth rate of the export volume of cheese, other than blue-veined, grated, powdered or processed totaled +1.7%. With regard to the other exported products, the following average monthly rates of growth were recorded: processed cheese (excluding grated or powdered) (-0.6% per month) and cheese of all kinds, grated or powdered (-5.0% per month).

South Africa Cheese And Curd Exports by Country

Namibia (241 tons), Botswana (148 tons) and Zambia (132 tons) were the main destinations of cheese and curd exports from South Africa, with a combined 50% share of total exports. Mozambique, Zimbabwe, Swaziland, Lesotho, Saudi Arabia, Mauritius, Malawi, Tanzania, Democratic Republic of the Congo and Jordan lagged somewhat behind, together comprising a further 46%.

From June 2022 to June 2023, the biggest increases were in Tanzania (with a CAGR of +22.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Namibia ($1.2M) remains the key foreign market for cheese and curd exports from South Africa, comprising 27% of total exports. The second position in the ranking was taken by Botswana ($580K), with a 13% share of total exports. It was followed by Zambia, with an 11% share.

From June 2022 to June 2023, the average monthly growth rate of value to Namibia amounted to +2.5%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Botswana (-0.6% per month) and Zambia (+0.8% per month).

Source: IndexBox Market Intelligence Platform