In 2024, Ukraine increased its dairy product exports in natural volumes by 8% compared to the previous year, reaching 117.73 thousand tons, and by 14% in monetary terms, totaling $295.03 million. Export volumes exceeded import volumes by $4.73 million.

“In December, Ukraine reduced its dairy export volumes due to a calm in the global dairy market during the New Year holiday season. However, based on the results of 2024, dairy exports from Ukraine increased amid a shortage of dairy fats and rising prices for butter and other commodity exchange goods worldwide”.

In 2024, Ukraine increased export revenue across all product categories, including non-condensed milk and cream (+6%), condensed milk and cream (+8%), buttermilk (+29%), whey (+19%), butter (+15%), cheeses (+26%), ice cream (+21%), and casein (+3%).

Main reason for price growth for commodity exchange goods was the price of butter.

As for imports, the total volume of dairy products imported into Ukraine in 2024 were 60.26 thousand tons (+1% compared to 2023), valued at $290.30 million (+9%).

In monetary terms, imports of butter to Ukraine increased by 10%, condensed milk and cream by 11%, cheeses by 12%, and ice cream by 22%. A decrease was observed in other categories.

Throughout 2024, Ukraine exported more dairy products than it imported, as evidenced by a positive trade balance of $4.73 million. However, in December, the foreign trade balance in the dairy market was negative, amounting to -$21.53 million.

Reference source: http://surl.li/igjiqy