EU dairy exports expand in July, while imports decline

In July 2026, overall EU dairy exports increased strongly, although the growth rate was significantly lower than in June, when exports increased by 18.55%. July recorded an increase of 8.46%, equivalent to 225 million kilo LME.Overall performance was tempered by weaker exports of lactose (-9.37%), I/F (-1.00%), and fermented milk (-3.70%). Skimmed milk powder, butter, AMF, and cheese performed exceptionally well. EU dairy exports July Commodity 2025 2026 ∆ ∆% SMP 72,926 84,097 11,171 15.32% WMP 14,442 15,836 1,394 9.65% Whey 63,468 64,018 550 0.87% Products of Natural milk constituents n.e.s. 9,669 10,039 370 3.83% WPC80/WPI's 4,373 5,065 692 15.82% Casein 6,228 6,851 623 10.00% Caseinates 1,850 1,920 70 3.78% MPC 2,531 3,517 986 38.96% Lactose 20,689 18,750 -1,939 -9.37% FFMP 36,718 36,747 29 0.08% I/F 42,504 42,079 -425 -1.00% Cheese 125,437 134,334 8,897 7.09% Butter 21,881 31,421 9,540 43.60% AMF 1,935 2,911 976 50.44% Cream 19,308 20,432 1,124 5.82% Yoghurt 32,292 35,443 3,151 9.76% Fermented milk 20,209 19,461 -748 -3.70% Condensed 24,309 26,441 2,132 8.77% Milk 83,048 87,758 4,710 5.67% By the end of July 2026, the year-to-date export performance of the European Union remained positive. The incremental export volume stood at 4.22%, equivalent to 801 million kilo LME. EU dairy exports YTD July Commodity 2025 2026 ∆ ∆% SMP 502,353 548,860 46,507 9.26% WMP 102,813 110,461 7,648 7.44% Whey 434,663 420,495 -14,168 -3.26% Products of Natural milk constituents n.e.s. 58,609 63,950 5,341 9.11% WPC80/WPI's 32,934 35,440 2,506 7.61% Casein 34,956 43,135 8,179 23.40% Caseinates 12,339 13,524 1,185 9.60% MPC 19,828 21,122 1,294 6.53% Lactose 144,903 126,684 -18,219 -12.57% FFMP 226,675 240,662 13,987 6.17% I/F 282,170 240,662 -41,508 -14.71% Cheese 815,305 863,855 48,550 5.95% Butter 136,566 190,588 54,022 39.56% AMF 13,978 16,686 2,708 19.37% Cream 143,026 141,083 -1,943 -1.36% Yoghurt 203,337 226,380 23,043 11.33% Fermented milk 141,653 140,913 -740 -0.52% Condensed 166,536 169,835 3,299 1.98% Milk 502,353 537,850 35,497 7.07% A key factor supporting this performance has been the highly competitive price levels of several EU dairy commodities.July 2026 marked the sixth consecutive month in which import volumes declined. Imports decreased by 14.95%, equivalent to 57 million kilo LME. This followed an 18.30% decrease in June, equivalent to 65 million kilo LME. The largest declines in July were recorded for I/F, lactose, and AMF. EU dairy imports July Commodity 2025 2026 ∆ ∆% SMP 4,457 5,376 919 20.62% WMP 1,394 1,534 140 10.04% Whey 3,220 5,414 2,194 68.14% WPC80/WPI's 4,482 3,758 -724 -16.15% Casein 1,133 803 -330 -29.13% Caseinates 67 65 -2 -2.99% MPC 1,580 1,767 187 11.84% I/F 669 284 -385 -57.55% Lactose 1,451 20 -1,431 -98.62% Cheese 16,510 14,778 -1,732 -10.49% Butter 3,695 3,610 -85 -2.30% AMF 5,879 2,779 -3,100 -52.73% Cream 2,954 2,476 -478 -16.18% Conc. Liq whey 2,129 2,423 294 13.81% Yoghurt 1,512 1,900 388 25.66% Fermented 4,285 4,568 283 6.60% Condensed 4,141 3,622 -519 -12.53% Milk 70,802 43,122 -27,680 -39.09% In July, the year-to-date import change stood at -6.52%, representing a decrease of approximately 166 million kilo LME compared with the same period last year. In June, the year-to-date decline had been 6.81%, equivalent to 147 million kilo LME. EU dairy imports YTD July Commodity 2025 2026 ∆ ∆% SMP 27,688 29,342 1,654 5.97% WMP 12,075 9,854 -2,221 -18.39% Whey 26,774 29,752 2,978 11.12% WPC80/WPI's 26,557 17,729 -8,828 -33.24% Casein 5,817 5,658 -159 -2.73% Caseinates 665 271 -394 -59.25% MPC 8,702 11,467 2,765 31.77% I/F 2,495 2,026 -469 -18.80% Lactose 19,619 14,548 -5,071 -25.85% Cheese 114,323 122,325 8,002 7.00% Butter 18,663 23,500 4,837 25.92% AMF 24,643 17,136 -7,507 -30.46% Cream 28,605 19,035 -9,570 -33.46% Conc. Liq whey 17,676 22,458 4,782 27.05% Yoghurt 7,204 8,914 1,710 23.74% Fermented 19,912 18,727 -1,185 -5.95% Condensed 33,458 39,393 5,935 17.74% Milk 475,671 384,119 -91,552 -19.25% At present, estimated theoretical stocks within the European Union stand at approximately 4.39 billion kilo LME. This represents an increase of 46.04% since the beginning of the year. The increase in stock levels reflects strong growth in milk production. Although exports have also increased, export growth has not been sufficient to absorb the additional milk supply.