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  • Exports of Indian dairy products top $500-million mark, hit eight-year high

Exports of Indian dairy products top $500-million mark, hit eight-year high

April 15, 2022
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Rise aided by rising feed costs, bad weather hit milk output in large producing countries

The exports of Indian dairy products are estimated at an eight-year high in FY22 on robust demand, aided by higher global prices.

Provisional data for the first eleven months — April 2021 to February 2022 — indicate that shipments have touched 1.70 lakh tonnes valued at over $552 million, a 93 per cent growth in value and 63 per cent volume growth over the same period a year ago. In rupee terms, exports grew to ₹4,115 crore, an year-on-year increase of 94 per cent over ₹2,122 crore, as per the DGCIS data.

The surge in exports is driven by robust demand for both commodity and value-added dairy products, coupled with a rise in global prices. Trade sources said both co-operatives and private players have seen good growth in exports of dairy products during the year.

Commodity exports

India, the largest milk producer in the world, had previously clocked a record dairy shipment of $727 million in FY14, when the global prices ruled higher.

RS Sodhi, Managing Director, Gujarat Co-operative Milk Marketing Federation (GCMMF) which sells products under Amul brand, said the growth has come about due to commodity exports such as skimmed milk powder (SMP), although branded products witnessed the usual annual growth of 15-20 per cent.

Amul has shipped out around 35,000 tonnes of SMP during the year. The export turnover of the country’s largest co-operative during FY22 registered a 300 per cent growth at around  ₹1,450 crore compared with ₹520 crore in the previous year.

“Rising feed costs and fertiliser shortage is seen impacting milk production in dairy-rich countries, driving demand for Indian dairy products. We were never competitive in the dairy fats segment, but now the global fat market is about 20 per cent higher than India,” Sodhi said.

Trade sources said unfavourable weather conditions in New Zealand and Australia have affected milk production in these milk surplus countries, resulting in historic high international commodity prices. This has helped Indian entities export products such as SMP, butter and whole milk powder, among others, to dairy deficit countries. The US, Bangladesh, UAE, Saudi Arabia and Malaysia are among the larger buyers of Indian dairy products.

Average per tonne realisation by Indian exporters has been $3,238 during April-February, about 19 per cent higher than $2,726 the same period a year ago. “Global prices have been higher by 15-20 per cent than the Indian domestic market,” Sodhi said.

Sources said the Karnataka Milk Federation (KMF), the second largest dairy co-operative in the country after GCMMF, has shipped out around 1,000 tonnes of SMP during the year.

Sufficient Stocks

Despite record exports, Indian dairy players still holding sufficient stocks of SMP and other products. Early rains down South may lead to early onset of flush or peak producing season in Karnataka and Tamil Nadu, sources said.

Current SMP stocks in the country are upwards of over one lakh tonne, which is sufficient to meet requirements this summer, Sodhi said.

Commenting on export prospects for the current financial year, he said, “The outlook is good. This year also we have got good orders. As the Indian market is good, we are not committing more for the export market”.

Source: Hindu Business Line, April 14, 2022
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