31 Oct 2014 14 49 PM
posted by Richard Rolfe
UK EXPORT OPPORTUNITIES STARTING TO INCREASE AS WHOLESALE PRICES FALL?
Published 28 October 14
UK exports of dairy products have increased by 12% in the first eight months of 2014 compared with the previous year. This is equivalent to an additional 76,000t. The rise is a direct consequence of an increase in milk deliveries across the UK, which increased by 9.6% over the same period.
Exports to EU member states account for 90% of total UK exports over this time period. Volumes of Whey powder, SMP and WMP all show significant increases year on year. Exports to non EU countries have increased from 7% of total UK exports in January to August 2013, to 10% in 2014. Trade with Algeria, China and Hong Kong has accounted for much of the 47.6% (21,600t) increase in volume.
One potential up-side of the falling wholesale prices for dairy products experienced throughout 2014 is that it can lead to increased trade opportunities. Countries that were unable to enter the market when prices were higher may wish to trade as prices fall. UK exporters may already be exploring new market opportunities with exports to sub-Saharan Africa increasing by 21% in the first eight months of 2014 compared to the same period the previous year.
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