Price for Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Australia - 2024
Contents:
- Price for Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Australia (CIF) - 2024
- Price for Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Australia (FOB) - 2024
- Imports of Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Australia
- Exports of Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Australia
Price for Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Australia (CIF) - 2024
In May 2024, the average import price for powdered unsweetened milk and cream of fat weight content over 1.5% amounted to $3,791 per ton, reducing by -3.1% against the previous month. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in March 2024 when the average import price increased by 14% month-to-month. Over the period under review, average import prices attained the maximum at $4,066 per ton in July 2023; however, from August 2023 to May 2024, import prices remained at a lower figure.
As there is only one major supplying country, the average price level is determined by prices for New Zealand.
From May 2023 to May 2024, the rate of growth in terms of prices for New Zealand amounted to +0.2% per month.
Price for Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Australia (FOB) - 2024
The average export price for powdered unsweetened milk and cream of fat weight content over 1.5% stood at $6,314 per ton in May 2024, growing by 13% against the previous month. Over the period from May 2023 to May 2024, it increased at an average monthly rate of +1.0%. The growth pace was the most rapid in June 2023 an increase of 20% month-to-month. As a result, the export price attained the peak level of $6,697 per ton. From July 2023 to May 2024, the the average export prices remained at a somewhat lower figure.
Prices varied noticeably by the country of destination: the country with the highest price was Singapore ($9,755 per ton), while the average price for exports to Indonesia ($3,260 per ton) was amongst the lowest.
From May 2023 to May 2024, the most notable rate of growth in terms of prices was recorded for supplies to Singapore (+8.7%), while the prices for the other major destinations experienced more modest paces of growth.
Imports of Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Australia
Imports of powdered unsweetened milk and cream of fat weight content over 1.5% into Australia amounted to 72K tons in 2022, with an increase of 8.6% on the year before. The total import volume increased at an average annual rate of +6.5% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 17% against the previous year. Imports peaked in 2022 and are expected to retain growth in the near future.
In value terms, imports of powdered unsweetened milk and cream of fat weight content over 1.5% surged to $323M in 2022. The total import value increased at an average annual rate of +11.9% over the period from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2020 when imports increased by 18% against the previous year. Over the period under review, imports of attained the maximum in 2022 and are expected to retain growth in the immediate term.
| Import of Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| New Zealand | 96.5 | 120 | 127 | 153 | 16.6% |
| Netherlands | 7.5 | 7.5 | 7.3 | 4.8 | -13.8% |
| Austria | 8.8 | 5.8 | 1.7 | 2.2 | -37.0% |
| Others | 118 | 137 | 140 | 163 | 11.4% |
| Total | 230 | 271 | 276 | 323 | 12.0% |
Top Suppliers of Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% to Australia in 2022:
- New Zealand (35.1K tons)
- Netherlands (0.6K tons)
- Austria (0.3K tons)
Exports of Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Australia
In 2022, approx. 56K tons of powdered unsweetened milk and cream of fat weight content over 1.5% were exported from Australia; waning by -41.3% compared with the previous year. In general, exports faced a deep slump. The most prominent rate of growth was recorded in 2021 with an increase of 42%. As a result, the exports attained the peak of 96K tons, and then shrank significantly in the following year.
In value terms, exports of powdered unsweetened milk and cream of fat weight content over 1.5% contracted notably to $303M in 2022. Overall, exports continue to indicate a deep reduction. The pace of growth was the most pronounced in 2021 with an increase of 55%. As a result, the exports attained the peak of $488M, and then fell markedly in the following year.
| Export of Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% in Australia (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| China | 111 | 97.5 | 126 | 92.4 | -5.9% |
| Thailand | 14.1 | 13.6 | 36.2 | 33.0 | 32.8% |
| Singapore | 13.2 | 11.2 | 17.8 | 12.2 | -2.6% |
| Indonesia | N/A | N/A | 12.2 | 4.2 | -65.6% |
| Vietnam | 2.5 | 4.5 | 8.4 | 3.3 | 9.7% |
| Malaysia | 2.9 | 2.1 | 10.4 | 1.3 | -23.5% |
| Hong Kong SAR | 11.9 | 6.6 | 12.2 | 1.3 | -52.2% |
| Bangladesh | 6.0 | 7.5 | 7.2 | 0.8 | -48.9% |
| Sri Lanka | 9.9 | 4.4 | 5.9 | 0.3 | -68.8% |
| Others | 201 | 167 | 251 | 155 | -8.3% |
| Total | 373 | 314 | 488 | 303 | -6.7% |
Top Export Markets for Powdered Unsweetened Milk and Cream of Fat Weight Content over 1.5% from Australia in 2022:
- China (13.2K tons)
- Thailand (8.7K tons)
- Singapore (3.1K tons)
- Indonesia (1.0K tons)
- Vietnam (0.6K tons)
- Malaysia (0.4K tons)
- Hong Kong SAR (0.3K tons)
- Bangladesh (0.2K tons)
- Sri Lanka (0.1K tons)
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