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Market Monitoring Dairy Industry: Insights April 2022

Mathieu Geuskens published on July 20, 2022

In this monthly dairy industry update, our analysts will share valuable insights about the dairy industry. This month: the trade volume of Dutch cheeses (Gouda, Maasdam, Edam) is up 3.5% in April 2022 compared to April 2021, prices are up 26.8%.

Market Monitoring of the dairy industry

Market monitoring helps agri-food companies objectively evaluate their current position within the market and the development of that position. Furthermore, it helps to spot new growth opportunities and whether the market is saturated.

For the A-INSIGHTS MarketMonitor, we analyze the global trade in dairy products on a monthly basis. Derived from local customs agencies and statistics offices, the data gives us insight into monthly trade volumes and prices for all major importers and exporters. Combined with our sector expertise, we can provide you with an up-to-date view of the developments in the global dairy market. 

Volume shows minor recovery whilst prices continue to rise

For the first time in 2022, the monthly trading volume of Dutch cheeses (Gouda, Edam, Maasdam) is up compared to the same month in 2021. At 75.4 thousand tonnes, volumes are up 3.5% compared to April 2021. Due to lower trading volumes in the first quarter, the year-to-date volume remains 20.4 thousand tonnes below the last year's volume (-6.4%) due to the reduced milk supply in Western Europe. The reduced input and high milk prices continue to work through in average trading prices, with April's average price of €4.78/kg up 26.8% compared to April 2021 and up 4.1% compared to March.  

YTD AprilFigure 1. Total export Dutch cheeses (Gouda, Edam, Maasdam) year-to-date until April, tonnes and €/kg

German volumes show recovery whilst Netherlands lags

In March and April, German volumes have shown a faster recovery than exports by the Netherlands. German volumes were up 1,312 tonnes in April compared to 2021, whilst exports from the Netherlands remained below the previous year's level. In the first four months of 2022, the Netherlands export volume was down 10.3% compared to the same period in 2021, whilst German export volumes were down 6.0%. This is noteable because the price gap between the traditionally lower-priced German exports and those of the Netherlands is closing: in April, German prices were up €1.40/kg compared to April 2021, whilst the Netherlands' export price increased by €0.75/kg in the same period. 

Exporters AprilFigure 2. Top 5 exporters Dutch cheeses (Gouda, Edam, Maasdam) April, tonnes and €/kg

Supply situation in Japan is shifting 

The pressure on Netherlands export volumes is driven by reduced imports by Germany and a continued normalization of imports by Japan, which imported record volumes in 2021. The drivers for Germany's export recovery are more diverse, with increased imports to Italy, Belgium, Japan, and Romania. Germany's increased exports to Japan mark a shift in the supply situation of the country, which historically mainly imported higher-priced products from the Netherlands. 

Importers AprilFigure 3. Top 10 importers Dutch cheeses (Gouda, Edam, Maasdam) April, tonnes and €/kg

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Mathieu Geuskens

Associate Food & Agri / mathieu.geuskens@a-insights.eu