Milk market in Greece

Earlier Report Observations

The Greek milk market volume expanded from 2 099 тыс. т in 2018 to 2 281 тыс. т in 2021. This growth period included the impact of the COVID-19 pandemic in 2020, which led EU dairy processors to shift more milk into cheese production due to changes in foodservice demand, while EU private storage aid schemes helped stabilize prices. In 2021, the recovery was supported by government messaging on the health benefits of milk and a rebound in foodservice sales across Europe, even as rising feed costs began to pressure farmer margins and limit production growth.

From 2022, the market volume experienced a slight contraction, reaching 2 234 тыс. т in 2023. This shift coincided with the war in Ukraine disrupting feed markets and significantly increasing grain and oilseed prices, which elevated milk production costs. Additionally, global milk supply growth remained modest, and tight export availability in Western Europe, coupled with ongoing high feed prices and geopolitical trade factors, contributed to a stabilized but softer market volume.

Production milk in Greece

In kind, 2017-2020, K t

Top producers of milk, 2017-2020

World map of production of milk, 2017-2020

Greece's milk production volume increased for the second consecutive year. In 2020, Greece produced 1 990 K t of milk, up 1.6% from the previous year. Over the period from 2017 to 2020, production grew by 3.6%, with a compound annual growth rate of 1.2%. The lowest production level was recorded in 2018 at 1 845 K t, which also saw the largest decline of 4.0%. In contrast, 2019 experienced the largest increase of 6.2%.

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

Exports milk from Greece

Exports in kind, K t

The market showed an unstable trend throughout the period. Export volumes reached their minimum in 2017 and peaked in 2018, with a 1.7-fold difference between these years. In 2020, milk exports from Greece amounted to 10.7 K t, representing a moderate reduction of 4.4% compared to the previous year. The highest export volume was recorded in 2018 at 16.3 K t, which also saw the largest increase of 70.0%. The largest decline occurred in 2019, with a drop of 31.4%.

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

From 2017 to 2020, Cyprus, Bulgaria, and Germany consistently held the leading positions in Greece's export structure by volume. Cyprus accounted for 30.5% of exports, Bulgaria for 18.0%, and Germany for 12.0%. Together, these three countries represented 60.5% of total export flows.

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

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

Exports in value, M $ US

Milk export values from Greece declined for the second consecutive year. In 2020, exports amounted to 20.3 M $ US, showing a moderate decline of 5.6% compared to the previous year. Over the period from 2017 to 2020, exports increased by 38.9%, equating to an annualized growth rate of 11.6%. The highest value was recorded in 2018 at 23.7 M $ US, which also saw the largest increase of 62.5%. The largest decline occurred in 2019, with a drop of 9.4%.

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

From 2017 to 2020, Greece exported milk to many countries, with the largest destinations being Cyprus, New Zealand, and the United Kingdom. However, even these top three markets together accounted for only 48.8% of total export value.

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

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

Imports milk to Greece

Imports in kind, K t

After a two-year decline, milk imports into Greece increased. In 2020, imports totaled 261.3 K t, remaining virtually unchanged compared to the previous year. Over the period from 2017 to 2020, imports decreased by 8.6%, equating to an annualized decline rate of 3.0%. The lowest import volume was recorded in 2019 at 259.9 K t. The largest decline occurred in 2018, with a drop of 5.4%.

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

Throughout 2017 to 2020, Germany, the Netherlands, and Romania formed the core group of markets for Greece's milk imports by volume. Germany accounted for 38.7% of imports, the Netherlands for 10.8%, and Romania for 9.9%. Together, these three countries represented 59.5% of total import flows.

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

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

Imports in value, M $ US

Milk import values into Greece increased for the second consecutive year. In 2020, imports reached 274.4 M $ US, showing a modest increase of 5.5% compared to 2019. Over the period from 2017 to 2020, imports decreased by 3.7%, equating to an annualized decline rate of 1.2%. The lowest value was recorded in 2018 at 259.1 M $ US, which also saw the largest decline of 9.1%.

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

From 2017 to 2020, Germany, the Netherlands, and Romania made the biggest contribution to Greece's milk imports by value. Germany accounted for 39.7% of imports, the Netherlands for 16.4%, and Romania for 7.3%. Together, these three countries represented 63.4% of total import flows.

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

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