Powdered Milk Prices in the United States

U.S. Powdered Milk Export Price per Ton in July 2022

In July 2022, the powdered milk price per ton stood at $4.0K (FOB, US), approximately equating the previous month. Over the last six-month period, it increased at an average monthly rate of +3.2%. The growth pace was the most rapid in February 2022 an increase of 4.9% m-o-m. Over the period under review, the average export prices hit record highs in July 2022.

Average prices varied noticeably for the major overseas markets. In July 2022, the highest price was recorded for prices to Colombia ($4.2K per ton) and Honduras ($4.2K per ton), while the average price for exports to Malaysia ($3.8K per ton) and the Dominican Republic ($3.9K per ton) were amongst the lowest.

From January 2022 to July 2022, the most notable rate of growth in terms of prices was recorded for supplies to Honduras (+8.8%), while the prices for the other major destinations experienced more modest paces of growth.

U.S. Powdered Milk Export Prices by Type

Prices varied noticeably by the product type; the product with the highest price was dairy produce; milk and cream, concentrated, not containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) ($4.2K per ton), while the average price for exports of dairy produce; milk and cream, containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) ($2.4K per ton) was amongst the lowest.

From January 2022 to August 2022, the most notable rate of growth in terms of prices was recorded for the following types: dairy produce; milk and cream, containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) (+9.0%), while the prices for the other products experienced more modest paces of growth.

U.S. Powdered Milk Exports

In August 2022, shipments abroad of powdered milk was finally on the rise to reach 69K tons after two months of decline. The total export volume increased at an average monthly rate of +1.7% from January 2022 to August 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in March 2022 when exports increased by 26% month-to-month.

In value terms, powdered milk exports totaled $273M (IndexBox estimates) in August 2022. The total export value increased at an average monthly rate of +4.3% over the period from January 2022 to August 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain months. The pace of growth was the most pronounced in March 2022 when exports increased by 32% against the previous month.

U.S. Powdered Milk Exports by Type

Dairy produce (65K tons) was the largest type of powdered milk exported from the United States, with a 94% share of total exports. Moreover, dairy produce exceeded the volume of the second product type, dairy produce; milk and cream, concentrated, not containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) (4.2K tons), more than tenfold.

From January 2022 to August 2022, the average monthly growth rate of the volume of export of dairy produce totaled +1.2%. With regard to the other exported products, the following average monthly rates of growth were recorded: dairy produce; milk and cream, concentrated, not containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) (+10.9% per month) and dairy produce; milk and cream, containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) (+7.3% per month).

In value terms, dairy produce ($256M) remains the largest type of powdered milk exported from the United States, comprising 94% of total exports. The second position in the ranking was held by dairy produce; milk and cream, concentrated, not containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) ($17M), with a 6.3% share of total exports.

From January 2022 to August 2022, the average monthly growth rate of the export volume of dairy produce amounted to +3.9%. With regard to the other exported products, the following average monthly rates of growth were recorded: dairy produce; milk and cream, concentrated, not containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) (+13.1% per month) and dairy produce; milk and cream, containing added sugar or other sweetening matter, in powder, granules or other solid forms, of a fat content exceeding 1.5% (by weight) (+17.0% per month).

U.S. Powdered Milk Exports by Country

Mexico (25K tons) was the main destination for powdered milk exports from the United States, with a 38% share of total exports. Moreover, powdered milk exports to Mexico exceeded the volume sent to the second major destination, the Philippines (8.8K tons), threefold. Indonesia (7.7K tons) ranked third in terms of total exports with an 11% share.

From January 2022 to July 2022, the average monthly growth rate of volume to Mexico amounted to +3.0%. Exports to the other major destinations recorded the following average monthly rates of exports growth: the Philippines (-6.4% per month) and Indonesia (+11.0% per month).

In value terms, Mexico ($101M) remains the key foreign market for powdered milk exports from the United States, comprising 37% of total exports. The second position in the ranking was held by the Philippines ($35M), with a 13% share of total exports. It was followed by Indonesia, with an 11% share.

From January 2022 to July 2022, the average monthly growth rate of value to Mexico amounted to +5.5%. Exports to the other major destinations recorded the following average monthly rates of exports growth: the Philippines (-2.3% per month) and Indonesia (+14.7% per month).

Source: IndexBox Market Intelligence Platform