The Russian dairy market will be balanced in 2024

The Russian dairy market will be balanced this year. This was announced by the General Director of the National Milk Union (Soyuzmoloko) Artem Belov during the exhibition and forum "Agricultural Technologies - 2024" in Perm.

“The increase in domestic market consumption will be about 3%, exports will grow within 20%, imports will remain relatively stable, our reserves will be adjusted, and by the end of 2024 we will return to the normal reserves that we have we have been observed over the previous seven years. Therefore, the market should be in balance, although there may be certain surges associated with exports," Belov said.

According to the general director of the National Milk Union, an excess in the expected export of dairy products may unbalance the domestic market this year. “There are certain prerequisites for this. We have begun deliveries to non-CIS countries, the largest destination is Algeria. Plus, last year we began deliveries to Tunisia, the Philippines, and Malaysia. Algeria is the second market for the import of dairy products; it imports 400 thousand tons of dry dairy products annually. This is three times more than what is produced in Russia. If this market is truly open to us, and we actively supply products to it, then a serious increase in export volumes may affect the balance of the domestic market in terms of demand for stock products. goods and in terms of prices for finished products,” explained Artem Belov.

At the same time, according to him, no significant changes are expected in the volume of imports of dairy products. “I don’t see any options for seriously increasing imports. Because, in fact, except for Belarus, no one supplies dairy products to Russia. There will be some change in the structure of imports, but in terms of volume, I don’t think there will be any breakthrough story here ", Belov added.

According to the National Milk Union, in 2023, exports of dairy products from Russia increased by 18% compared to the previous year and amounted to about 1 million tons of milk equivalent. In particular, there was an almost sixfold increase in the supply of skimmed milk powder and an almost threefold increase in whey powder. Russian dairy products are supplied to about 60 countries around the world, while approximately a third of domestic enterprises export their products.