Dairy Exports Overcome 2020 Challenges, 2021 Looking Brighter

WASHINGTON, DC – Despite challenges presented by the COVID-19 economic lockdown, exports of U.S. dairy products expanded 9 percent year-over-year in 2020, reaching a total of $6.5 billion. According to USDA, dairy exports last year were below the record set in 2014, but represent the fourth consecutive year of growing export value. Mexico, Canada, and China continue to account for 45 percent of export sales, though purchases from Mexico fell 8 percent in 2020. Economists within the Foreign Agriculture Service (FAS), believe the trend can continue with U.S. milk production forecast to grow 2 percent with a rebound in demand from Mexico. Otherwise, U.S. exports of dairy products on a fat basis are forecast to grow 8 percent, primarily due to higher volumes of butter. Skim-solid milk equivalent exports should expand by 3 percent and skimmed milk equivalent should grow 22 percent.
(SOURCE: All Ag News)