Milk market in Caribbean

Earlier Report Observations

The Caribbean milk market volume stood at 2.3 million tons in 2018 but began a gradual contraction, decreasing to 2.2 million tons by 2020. This early decline coincided with severe global supply chain disruptions during the COVID-19 pandemic, which impeded dairy production and international trade flows.

From 2021 to 2023, the market faced further pressure from sluggish worldwide milk production and a notable slowdown in Chinese import demand, driving volumes down to 1.8 million tons. A temporary respite occurred in 2022, with a slight recovery to 1.99 million tons, supported by resilient consumer spending in key markets despite broader inflationary pressures.

Entering 2024, the sector navigated a context of moderate global milk output growth concentrated in Asia and China's sustained reduction in imports. Concurrently, the regulatory environment evolved with the implementation of stricter hygiene and traceability standards for dairy products.

Production milk in Caribbean

In kind, 2017-2020, K t

Top producers of milk, 2017-2020

World map of production of milk, 2017-2020

Milk production in the Caribbean has declined for the second year in a row. In 2020, the region produced 1,913 thousand tons of milk, which represents a moderate decrease of 3.5% compared to 2019. Looking at the period from 2017 to 2020, overall production fell by 3.2%, with an average annual growth rate of -1.1%. The highest production level was recorded in 2018 at 2,037 thousand tons, which also saw the largest annual increase of 3.0%.

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

Exports milk from Caribbean

Exports in kind, K t

The export market for milk from the Caribbean showed significant volatility during this period. In 2018, exports hit their lowest point at 2.0 thousand tons, while they peaked in 2019 at 3.8 thousand tons—a two-fold difference between these years. In 2020, exports dropped to 3.1 thousand tons, marking a substantial decline of 20.2% compared to 2019. The largest increase occurred in 2019, with a dramatic rise of 95.8%.

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

From 2017 to 2020, milk exports from the Caribbean were not heavily concentrated on a few key destinations. Guyana accounted for 13.9% of exports, the United States for 6.3%, and Venezuela for 5.4%. Together, these three countries made up only 25.6% of total export flows, indicating a diverse distribution across multiple markets.

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, M $ US

The value of milk exports from the Caribbean exhibited irregular changes, reflecting a volatile market environment. In 2018, export values reached their lowest point at 5.5 million US dollars, while they peaked in 2019 at 11.0 million US dollars—a two-fold gap. In 2020, export values fell to 6.0 million US dollars, representing a steep decrease of 45.3% compared to 2019. The largest decline occurred in 2018 at 48.1%, and the largest increase was in 2019 at 102.0%.

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

The partner structure for milk exports in value terms from 2017 to 2020 was fragmented, with no single country dominating. Venezuela accounted for 15.6% of export value, Guyana for 8.2%, and the United States for 7.8%. Combined, these three partners represented only 31.6% of total flows, highlighting a broad distribution across numerous destinations.

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 to Caribbean

Imports in kind, K t

In 2020, the Caribbean imported 242.7 thousand tons of milk, showing a moderate increase of 3.4% compared to the previous year. Over the period from 2017 to 2020, imports grew by 12.8%, equivalent to an average annual rate of 4.1%. The largest decline was recorded in 2019 at 2.0%, while the largest increase occurred in 2018 at 11.3%.

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

Analysis of milk imports in kind from 2017 to 2020 reveals a broad distribution across many markets. Peru accounted for 19.7% of imports, the United States for 12.7%, and Germany for 10.1%. Together, these three countries made up 42.5% of total import flows, with the remaining 57.5% spread across a wide range of other partners.

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, M $ US

In 2020, the Caribbean imported milk worth 511.5 million US dollars, indicating a modest advance of 8.3% compared to 2019. From 2017 to 2020, import values increased by 7.3%, equating to an average annual growth rate of 2.4%. The lowest value was recorded in 2019 at 472.3 million US dollars, which also saw the largest decline of 2.7%.

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

The country composition of milk imports in value terms from 2017 to 2020 was dispersed. New Zealand accounted for 12.0% of import value, the Netherlands for 11.8%, and Peru for 11.1%. Together, these three countries formed just 34.9% of total flows, with the remaining 65.1% distributed among a wide range of other destinations.

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

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