U.S. dairy exports set to reach record in fiscal 2005

Food & Drink Weekly, March 7, 2005

U.S. dairy exports set to reach record in fiscal 2005: The U.S. Department of Agriculture has upped its forecast for fiscal 2005 (ending September 30, 2005) dairy exports by $400 million from November's estimate to a record $1.7 billion, partly because of expected large commercial sales of dry milk powder.

Major markets for U.S. milk powder are Mexico and several Asian countries such as the Philippines, Indonesia, and Malaysia, markets traditionally supplied by New Zealand and Australia. Fiscal year 2005 dairy imports are projected at $2.6 billion, up from November's forecast of $2.5 billion and up from 2004 imports of $2.3 billion.