EU dairy exports accelerate in June

In June 2026, overall EU dairy exports increased strongly, although growth was slightly tempered by weaker exports of whey (-2.58%), caseinate (-3.54%), and lactose (-0.50%). Total exports increased by 18.55%, equivalent to 463 million kilo LME, compared with an increase of 0.91%, or 24 million kilo LME, in May.Skimmed milk powder (SMP), butter, and cheese performed particularly well. EU dairy exports - June Commodity 2025 2026 ∆ ∆% SMP 97,176 67,455 29,721 44.06% WMP 16,429 12,023 4,406 36.65% Whey 61,607 63,239 -1,632 -2.58% Products of Natural milk constituents n.e.s. 7,910 7,238 672 9.28% WPC80/WPI's 5,655 4,116 1,539 37.39% Casein 7,230 6,673 557 8.35% Caseinates 1,960 2,032 -72 -3.54% MPC 3,050 2,128 922 43.33% Lactose 17,404 17,491 -87 -0.50% FFMP 34,402 33,235 1,167 3.51% I/F 44,786 42,528 2,258 5.31% Cheese 134,782 117,299 17,483 14.90% Butter 29,029 20,042 8,987 44.84% AMF 2,682 2,029 653 32.18% Cream 20,675 18,648 2,027 10.87% Yoghurt 34,308 29,150 5,158 17.69% Fermented milk 22,582 21,514 1,068 4.96% Condensed 29,703 20,883 8,820 42.24% Milk 90,314 79,395 10,919 13.75% By the end of June 2026, the EU's year-to-date export performance remained positive, with the increase in export volumes nearly doubling compared with the figure recorded at the end of May. Incremental export volume reached 6.08%, or 970 million kilo LME, compared with 4.0%, or 529 million kilo LME, in May. EU dairy exports - YTD June Commodity 2025 2026 ∆ ∆% SMP 464,804 399,800 65,004 16.26% WMP 94,481 88,369 6,112 6.92% Whey 356,494 376,255 -19,761 -5.25% Products of Natural milk constituents n.e.s. 53,441 48,941 4,500 9.19% WPC80/WPI's 30,195 28,631 1,564 5.46% Casein 36,393 28,724 7,669 26.70% Caseinates 11,603 11,052 551 4.99% MPC 17,585 17,297 288 1.67% Lactose 110,789 124,214 -13,425 -10.81% FFMP 203,856 189,957 13,899 7.32% I/F 239,290 239,465 -175 -0.07% Cheese 729,627 689,865 39,762 5.76% Butter 157,292 115,253 42,039 36.48% AMF 13,806 10,297 3,509 34.08% Cream 120,662 125,340 -4,678 -3.73% Yoghurt 190,845 171,045 19,800 11.58% Fermented milk 121,434 121,444 -10 -0.01% Condensed 144,293 142,228 2,065 1.45% Milk 449,975 417,677 32,298 7.73% A key factor supporting this development has been the highly competitive pricing of several EU dairy commodities.In May 2026, EU dairy import volumes declined for the fifth consecutive month. Imports decreased by 22.00%, equivalent to 85 million kilo LME, following a decline of 17.25%, or 71 million kilo LME, in April. The largest decreases were recorded for SMP, WPC80/WPI, lactose, and butter fats. EU dairy imports - May Commodity 2025 2026 ∆ ∆% SMP 4,083 5,672 -1,589 -28.01% WMP 203 1,334 -1,131 -84.78% Whey 4,155 3,386 769 22.71% WPC80/WPI's 2,200 3,889 -1,689 -43.43% Casein 1,078 1,036 42 4.05% Caseinates 2 121 -119 -98.35% MPC 1,513 1,423 90 6.32% I/F 409 391 18 4.60% Lactose 876 823 53 6.44% Cheese 16,562 15,725 837 5.32% Butter 1,282 3,611 -2,329 -64.50% AMF 1,790 4,155 -2,365 -56.92% Cream 2,807 3,790 -983 -25.94% Conc. Liq whey 3,100 3,150 -50 -1.59% Yoghurt 1,607 1,362 245 17.99% Fermented 2,441 3,821 -1,380 -36.12% Condensed 6,822 4,257 2,565 60.25% Milk 47,684 57,362 -9,678 -16.87% In June, the year-to-date import change improved to -6.81%, representing a decrease of approximately 147 million kilo LME compared with the same period last year. This was an improvement from May, when the year-to-date decline stood at 8.41%, equivalent to 152 million kilo LME. EU dairy imports - YTD May Commodity 2025 2026 ∆ ∆% SMP 23,225 23,231 -6 -0.03% WMP 6,836 10,681 -3,845 -36.00% Whey 26,454 23,554 2,900 12.31% WPC80/WPI's 14,086 22,076 -7,990 -36.19% Casein 4,855 4,683 172 3.67% Caseinates 212 598 -386 -64.55% MPC 9,696 7,122 2,574 36.14% I/F 1,739 1,826 -87 -4.76% Lactose 13,794 18,168 -4,374 -24.08% Cheese 106,389 97,813 8,576 8.77% Butter 18,411 14,969 3,442 22.99% AMF 14,356 18,763 -4,407 -23.49% Cream 16,573 25,651 -9,078 -35.39% Conc. Liq whey 20,035 15,546 4,489 28.88% Yoghurt 7,011 5,691 1,320 23.19% Fermented 16,058 15,627 431 2.76% Condensed 35,758 29,317 6,441 21.97% Milk 320,979 404,869 -83,890 -20.72% At present, estimated theoretical stocks within the EU stand at approximately 4.05 billion kilo LME. This represents an increase of 34.76% since the beginning of the year. The rise in stock levels is primarily driven by strong growth in milk production. At the same time, imports have increased, while export growth, although positive, has not been sufficient to absorb the additional milk supply.