India: Dairy and Products Annual

India’s marketing year (MY) 2022 (January-December) fluid milk production is forecast higher at 203.5 million metric tons (MMT) based on a relatively normal June-September monsoon season. Anticipating strong prices and modest export demand, butter exports will rise to 15,000 metric tons (MT), 36 percent higher than the revised estimated export figure of 11,000 metric tons (MT) for MY 2021. With the same assumptions, skimmed milk powder (SMP) exports are forecast to increase to 20,000 MT, 11 percent higher than the revised estimated figure for MY 2021. Butter and SMP estimated export figures have been revised to match with trade data. Since milk production is growing in tandem with domestic consumption, any uptick in future demand for milk-based products may lead to a general expansion in dairy imports.