In the European Union, cheese production is forecast up marginally in 2024 despite weaker milk production as profitability is expected to remain higher compared to butter and milk powders, according to a recent US Department of Agriculture (USDA) Global Foreign Agricultural Service (FAS) dairy market report.
As the industry grapples with a reduced milk supply, processors are expected to funnel a larger share of the milk pool toward cheese production, prioritising it over other dairy products.
Additionally, slowing demand in China for milk powders may encourage an increased focus on cheese production. On the domestic front, heightened consumption is expected, driven by rising incomes, economic recovery, and the resurgence of the hospitality sector and tourism to pre-COVID levels.
EU cheese exports are estimated to climb by 1% in 2024, propelled by a global uptick in cheese demand. According to the reports published in www.thedairysite.com .
UK importers are actively seeking cost-effective EU products to offset higher exports.
