World milk production is projected to grow at 1.6% p.a. Consequently, the difference between butter and SMP prices declined. SMP prices recovered during 2019 from low levels after the European Union sold its intervention stocks, purchased in 2016 when prices fell below the set threshold of EUR 1 698 per tonne. The strength of milk fat prices (butter) is supported by strong demand in North America and Europe for cream, butter, and other full-fat milk products. Although the world butter price continued to decline compared to its record 2017 price levels, it remained high in real terms. Milk fat and other milk solids together account for about 13% of the weight of milk, with the remainder being water. Butter is the reference for milk fat and SMP for other milk solids. International dairy prices refer to dairy products other than unprocessed milk, which is practically not traded. Its dairy imports, especially of whole milk powder (WMP) and of skim milk powder (SMP), nevertheless increased in 2019 due to increasing demand. In the People’s Republic of China (hereafter “China”), the world’s largest importer of dairy products, milk production increased by 3.6% in 2019. As domestic consumption of dairy products in these three countries is stable, the availability of fresh dairy products 1 and processed products for export increased.
Milk production of the three major dairy exporters, New Zealand, European Union and the United States, increased only slightly. In India, the largest milk producer in the world, production increased by 4.2% to 192 Mt, although this had little impact on the world dairy market as India trades only marginal quantities of milk and dairy products. World milk production (81% cow milk, 15% buffalo milk, and 4% for goat, sheep and camel milk combined) grew by 1.3% in 2019 to about 852 Mt. Wallis and Futuna Western Sahara Yemen Zambia Zimbabwe Afghanistan Albania Algeria American Samoa Andorra Angola Anguilla Antigua and Barbuda Argentina Armenia Aruba Australia Austria Azerbaijan Bahamas Bahrain Baltic States Bangladesh Barbados Belarus Belgium Belize Benin Bermuda Bhutan Bolivia Bosnia and Herzegovina Botswana Brazil British Indian Ocean Territory Brunei Darussalam Bulgaria Burkina Faso Burundi Cambodia Cameroon Canada Cape Verde Cayman Islands Central African Republic Chad Chile China, People’s Republic Chinese Taipei Colombia Comoros Congo Congo, the Democratic Republic of the Cook Islands Costa Rica Cote d'Ivoire Croatia Cuba Cyprus Czech Republic Denmark Djibouti Dominica Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea Eritrea Estonia Eswatini Ethiopia Euro Area European Union Falkland Islands (Malvinas) Faroe Islands Fiji Finland France French Guiana French Polynesia Gabon Gambia Georgia Germany Ghana Gibraltar Greece Greenland Grenada Guam Guatemala Guernsey Guinea Guinea-Bissau Guyana Haiti Holy See (Vatican City State) Honduras Hong Kong, China Hungary Iceland India Indonesia Iran, Islamic Republic of Iraq Ireland Isle of Man Israel Italy Jamaica Japan Jersey Jordan Kazakhstan Kenya Kiribati Korea, Democratic People's Republic of Korea, Republic of Kosovo Kuwait Kyrgyzstan Lao People's Democratic Republic Latvia Lebanon Lesotho Liberia Libya Liechtenstein Lithuania Luxembourg Macau, China Madagascar Malawi Malaysia Maldives Mali Malta Marshall Islands Mauritania Mauritius Mayotte Mexico Micronesia, Federated States of Moldova, Republic of Monaco Mongolia Montenegro Montserrat Morocco Mozambique Myanmar Namibia Nauru Nepal Netherlands Netherlands Antilles New Caledonia New Zealand Nicaragua Niger Nigeria Niue Norfolk Island North Macedonia Northern Mariana Islands Norway Oman Pakistan Palau Palestinian Authority Panama Papua New Guinea Paraguay Peru Philippines Pitcairn Poland Portugal Puerto Rico Qatar Romania Russian Federation Rwanda Saint Helena Saint Kitts and Nevis Saint Lucia Saint Pierre and Miquelon Saint Vincent and the Grenadines Samoa San Marino Sao Tome and Principe Saudi Arabia Senegal Serbia Seychelles Sierra Leone Singapore Slovak Republic Slovenia Solomon Islands Somalia South Africa South Georgia and the South Sandwich Islands South Sudan Spain Sri Lanka Sudan Suriname Svalbard and Jan Mayen Sweden Switzerland Syrian Arab Republic Tajikistan Tanzania, United Republic of Thailand Timor-Leste Togo Tokelau Tonga Trinidad and Tobago Tunisia Turkmenistan Turks and Caicos Islands Tuvalu Türkiye Uganda Ukraine United Arab Emirates United Kingdom United States United States Minor Outlying Islands Uruguay Uzbekistan Vanuatu Venezuela Viet Nam Virgin Islands, British Virgin Islands, U.S.
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