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On June 26, Japan’s Ministry of Agriculture, Forestry, and Fisheries affirmed that it would increase the tariff-rate quota volumes for butter to 14,000 MT, but would leave non-fat dry milk (NFDM) unchanged at 750 MT.

Fueled by Filipinos' fondness for food indulgences, rising disposable incomes, and increasing urbanization, the $1.2 billion confectionery and ice cream market is expected to see robust growth of eight percent annually through 2028.

This monthly report includes information on U.S. and global imports of dairy products, including maximum quantities that can be imported under tariff-rate quota licensing.

The Dominican Republic, through its Ministry of Industry, Commerce and SME’s (MICM), announced the activation of the CAFTA-DR agricultural safeguard measure for imports of mozzarella cheese from the United States on May 22, 2024.

Milk production in Australia for 2024 is estimated to increase, for the first time since 2020, by 3.3 percent to 8.75 million metric tons (MMT). Industry confidence is elevated by high milk prices for dairy farmers over recent years and, also lower feed and fertilizer prices and broadly good seasonal conditions in 2024.

EU milk production in 2024 is forecast to fall slightly to 148.9 million metric tons (MMT), from an estimated 149.3 MMT in 2023 as a result of declining cow numbers and lower milk production profitability. With lower milk production, which will only be partially offset by lower expected fluid milk consumption, factory use consumption is also forecast to minimally decrease in 2024.

Post increased its estimate of raw milk production in 2024 due to a larger dairy cow inventory. Imports of fluid milk, whole milk powder (WMP), and skimmed milk powder (SMP) are estimated to all decline in 2024 due to higher domestic milk production.

Mexico’s milk, cheese, and butter production are forecast year on year growth of two percent in 2024. Dairy farmers are expected to mitigate the impacts of prolonged drought and heat conditions with previously stored forage, increased feed grain imports, and water storage mechanisms.

New Zealand fluid milk production is forecasted to be 21.2 million metric tons (MMT) in the 2024 market year (MY). This is a decrease on the previous 5-year average of ~21.6 MMT, reflecting the decreasing herd numbers and the short-term effects of the following: El Niño weather pattern, softening revenue, high cost of debt servicing, and challenging feed and fertilizer prices.

Vietnam offers abundant opportunities for exporting consumer-oriented products, despite the challenges of recovering from the COVID-19 pandemic and dealing with high inflation. The Vietnamese economy is poised for significant expansion in the coming decades. With a burgeoning population and a growing middle class, Vietnamese consumers are becoming more discerning about the origin and composition of their food.

This monthly report includes information on U.S. and global imports of dairy products, including maximum quantities that can be imported under tariff-rate quota licensing.

In 2023 Bulgarian dairy farming stabilized with a growth in milk deliveries. This was due to improved milk yields despite continued decline in the dairy cow herd, and due to record high fluid milk imports.