Dairy exports for fiscal 2016 (October 2015-September 2016) remain essentially unchanged from the previous quarterly report at $5.8 billion. Declining global prices are expected to offset modest gains in export volumes.
The forecast for fiscal 2015 (October 2014-September 2015) dairy exports is down $400 million to $5.8 billion as US cheese, nonfat dry milk, and whey face strong competition and low prices in a weak world market. October to June dairy exports are down from $5.716 billion in 2014 to $4.356 billion in 2015.
Dairy imports for the first nine months of fiscal 2015 are up on the same period a year earlier. For the period October 2014 to June 2015 imports of dairy products were valued at $2.661 billion, up from $2.369 billion the same period a year earlier. The forecast for dairy imports for fiscal 2015 have been revised upwards by $100 million compared to the previous quarterly report now forecast at $3.6 billion.
Dairy imports for fiscal 2016 are forecast at $3.5 billion.
Cheese imports for the first nine months of fiscal 2015 are up on the same period a year earlier. For the period October 2014 to June 2015 imports of cheese products were valued at $985 million, up from $905 million the same period a year earlier. The forecast for cheese imports for fiscal 2015 have been revised downwards by $100 million, compared to the previous quarterly report, to $1.4 billion.
Cheese imports for fiscal 2016 are also forecast at $1.4 billion.
