US Dairy Product Exports Growing Since 2004
Posted on: Tuesday, 10 January 2006, 15:00 CST
After years of near balance between the total quantity of US dairy imports and exports, exports of US dairy products in 2004 and 2005 leapt ahead of imports during the same time period, according to the International Dairy Foods Association (IDFA).
The total quantity of US dairy exports grew by 35% in 2004, and by a further 15% in 2005. Importantly, since early 2004, these exports have been prompted without US government subsidies through the Dairy Export Incentive Program. The increase in US dairy exports has far outpaced the increases in dairy product imports, which grew by 5% in 2004 and 7% in 2005 through October each year.
The value of US dairy exports is also growing faster than the value of imports. Through October 2005, US dairy product exports totaled nearly $1.4 billion, up 20% over the same period in 2004. US imported dairy product value in the same 2005 time period increased only 11%, to $2.1 billion.
The top six countries receiving US dairy products in 2005 include the nation's two continental neighbors, with $419 million of exports going to Mexico and $181 million to Canada. Other destinations with more than $50 million in US exports include Japan, Philippines, Indonesia and China.
This growth of US exports comes during a time when world prices for dairy products are on the rise. The annual average world price for skimmed milk powder has been above both the US dairy support price and the benchmark price for West Coast nonfat dry milk for the past two years.
Source: Datamonitor
Related Articles
- Sinobiopharma Announces 350% Increase in Production of Its Flagship Drug in the First Quarter of 2009 Over the Same Period in 2008
- Striker Oil & Gas Announces a 266% Increase in Revenue for Its First Quarter Ended March 31, 2008 Compared to the Same Period in 2007
- Modern Technology Corp Announces 65% Increase in Quarterly Sales Over Same Period Last Year
- Encore Energy Announces 65% Increase in Quarterly Sales Over Same Period Last Year
- Inmet's 2006 Third Quarter Results More Than Double the Same Period in 2005
- Inmet's 2006 Second Quarter Earnings Over Four Times Higher Than the Same Period in 2005
- Steel Imports Up 32% Over Same Period in 2005
- Abraxas Reports Second Quarter 2005 Results With 23% Revenue and 9% Production Growth Over First Quarter 2005
- DPA Reports 22 Per Cent Growth in Container Traffic in the First Half of 2005 Compared to the Same Period Last Year
- Plan To Increase Fishery Export In 2004
 |
 |
User Comments (0)
RSS Feeds