Browse Data and Analysis

On December 21, 2023, the State Council Tariff Commission (SCTC) announced its annual tariff adjustment plan that sets tentative import and export tariff rates for select commodities in 2024.

This biannual report includes data on U.S. and global trade, production, consumption and stocks, as well as analysis of developments affecting world trade in dairy products.

Ample opportunities exist for U.S. agricultural exports to South Korea. Highlighted in the chart above, U.S. agricultural product exports were a record $9.5 billion in 2022, up 2 percent from 2021. South Korea is the sixth largest export market for the United States, thanks in part to a successful free trade agreement (KORUS) between the two countries and a robust demand for high-quality U.S. food products.

Although Indonesian dairy production is still reeling from the 2022 Foot and Mouth Disease (FMD) outbreak, imports of dairy ingredients are expected to decline in 2023.

Health Canada opened pre-consultations on a proposed new regulatory framework for foods for special dietary use and infant foods, which include categories such as infant formula, prepackaged human milk, medical foods, gluten-free foods, formulated...

Milk production for 2024 in Australia is forecast to increase by 0.6 percent to 8.50 million metric tons (MMT) after stabilizing in 2023 at an estimated 8.45 MMT from previous years of declining production. The forecast is amid an El Niño weather pattern in late 2023, likely to continue into 2024.

Due to the severe drought, Post forecasts a slight decrease in dairy output, estimating a decline of just over one percent to 11,441,000 MT in volume by the end of 2023 compared to 2022. Projections for 2024 are complex as several factors could lead to a significant drop in production, particularly during the first half of the year.

On October 25, 2023, China notified the National Food Safety Standard for Raw Milk No. 1 Amendment to the World Trade Organization (WTO) under G/SPS/N/CHN/1288.

On October 25, 2023, China notified the National Food Safety Standard for Modified Milk to the World Trade Organization (WTO) under G/SPS/N/CHN/1287. The proposed date of entry into force is to be determined. Comments may be submitted to China’s SPS...

FAS/Canada projects milk production flat into 2024, based on declining fluid milk consumption, and steady requirements for industrial milk. Production of cheese and butter is forecast to increase modestly in 2024, as stocks have been recovering, and...

On September 29, Japan’s Ministry of Agriculture Forestry, and Fisheries reaffirmed its January announcement that for Japanese fiscal year (JFY) 2023 tariff rate quota volumes for butter would increase to 10,320 MT, but would remain at 750 MT for non...

Milk, cheese, and butter production in 2024 are forecast to increase due to relatively lower input and dairy ingredient prices and strong domestic demand. Mexico is forecast to remain a net importer of skim milk powder due to competitive...