Milk and cream market in Caribbean

Earlier Report Observations

The market volume for not concentrated, not sweetened milk and cream in the Caribbean region trended downward from 2018 to 2023. Starting at 2 196 thousand tons in 2018, total consumption fell to 1 801 thousand tons by the end of the period, a reduction of 18%.

The decline was most pronounced in 2021, when the market shrank by 6.5% to 1 937 thousand tons. A slight recovery of 0.9% occurred in 2022, lifting volume to 1 955 thousand tons, but this was followed by a sharp 7.9% drop in 2023.

This contraction in market volume coincided with a steady decrease in domestic production, which fell from 2 137 thousand tons in 2018 to 1 731 thousand tons in 2023. Imports of milk and cream remained relatively stable, ranging between 61 and 77 thousand tons annually, and thus did not offset the falling local output.

Production milk and cream in Caribbean

In kind, 2017-2020, K t

Top producers of milk and cream, 2017-2020

World map of production of milk and cream, 2017-2020

Milk and cream production in the Caribbean declined for the second consecutive year. In 2020, production reached 2 005 thousand tons, marking a 3.4% decrease compared to 2019. Over the period from 2017 to 2020, production fell by 2.8%, with a compound annual growth rate of 0.9%. The highest production level was recorded in 2018 at 2 137 thousand tons, which also saw the largest annual increase of 3.6%.

Annual dynamics of production in Caribbean in kind, 2017-2020, K t

In value, 2017-2020, M $ US

Caribbean's milk and cream production value declined for the third consecutive year. In 2020, output was valued at 2 329 million US dollars, down by 9.8% from the previous year. From 2017 to 2020, production value decreased by 35.4%, with a compound annual growth rate of 13.6%.

Annual dynamics of production in Caribbean in value, 2017-2020, M $ US

Exports milk and cream from Caribbean

Exports in kind, t

Cross-border shipments of milk and cream from the Caribbean increased for the third consecutive year. In 2020, exports amounted to 1 400 tons, representing a strong advance of 17.8% compared to 2019. Between 2017 and 2020, exports grew by 35.5%, equating to an annualized rate of 10.7%.

Annual dynamics of product's exports from Caribbean in kind, 2017-2020, t

From 2017 to 2020, Guyana, the United States, and Bunkers formed the largest group of buyers for Caribbean milk and cream exports in kind. Guyana accounted for 27.8% of exports, the United States for 2.7%, and Bunkers for 2.1%. However, their combined contribution was limited to 32.6% of total exports, reflecting a diversified country structure.

Structure of product's exports in kind by countries, 2017-2020

World map of product's exports from Caribbean in kind, 2017-2020

Exports in value, K $ US

After a two-year decrease, milk and cream export values from the Caribbean increased. In 2020, exports totaled 1 626 thousand US dollars, marking a limited rise of 10.0% compared to 2019. Over the period from 2017 to 2020, exports decreased by 10%, with a compound annual growth rate of 3.5%. The lowest value was recorded in 2019 at 1 478 thousand US dollars, while the largest decline occurred in 2018 at 9.6%.

Annual dynamics of product's exports from Caribbean in value, 2017-2020, K $ US

From 2017 to 2020, the partner structure for exports in value terms was balanced rather than concentrated. Guyana accounted for 32.3% of exports, the United States for 5.6%, and Bunkers for 5.1%, jointly representing 43.1% of total flows. Many other countries accounted for the remaining 56.9%.

Structure of product's exports in value by countries, 2017-2020

World map of product's exports from Caribbean in value, 2017-2020

Imports milk and cream to Caribbean

Imports in kind, t

Milk and cream imports into the Caribbean increased for the third consecutive year. In 2020, import volume totaled 68 232 tons, which is 1.4% greater than in 2019. Over the period from 2017 to 2020, imports grew by 58%, with a compound annual growth rate of 16.5%.

Annual dynamics of product's imports to Caribbean in kind, 2017-2020, t

From 2017 to 2020, the United States, Costa Rica, and Germany continued to head the list of suppliers of milk and cream to the Caribbean in kind. The United States accounted for 31.8% of imports, Costa Rica for 19.8%, and Germany for 17.9%, jointly taking 69.5% of total imports.

Structure of product's imports in kind by countries, 2017-2020

World map of product's imports to Caribbean in kind, 2017-2020

Imports in value, K $ US

Caribbean's milk and cream import value declined for the second consecutive year. In 2020, imports came to 61 855 thousand US dollars, remaining flat compared to the previous year. Between 2017 and 2020, imports increased by 19.5%, equating to an annualized rate of 6.1%. The maximum value was recorded in 2018 at 62 306 thousand US dollars, which also saw the largest annual increase of 20.4%.

Annual dynamics of product's imports to Caribbean in value, 2017-2020, K $ US

Over the period from 2017 to 2020, the United States, Costa Rica, and Germany made the biggest contribution to imports in value terms. The United States accounted for 35.7% of imports, Costa Rica for 19.2%, and Germany for 13.7%, jointly accounting for 68.6% of total flows.

Structure of product's imports in value by countries, 2017-2020

World map of product's imports to Caribbean in value, 2017-2020