Milk powder with fat content of >1.5% market in Caribbean

Earlier Report Observations

The Caribbean market for milk powder with over 1.5% fat content experienced a sustained contraction from 2018 to 2022, with volume falling from 71 722 t to 48 492 t. This decline was most pronounced in 2021, when the market dropped by 28% to 47 471 t, before a modest 2% recovery in 2022.

A sharp, accelerated decline of 32% occurred in 2023, bringing the market volume down to 32 737 t. This was driven by a combination of global supply constraints and shifting local demand. Reduced milk output in key exporting regions like Europe and New Zealand limited import availability, while China's expansion of its domestic powder production decreased global import demand, affecting trade flows to the Caribbean. Concurrently, consumer preferences in the region moved away from reconstituted milk products toward fresh milk, directly reducing demand for milk powder.

Import volumes continued to fall into 2024, reaching 26 496 t. This trend aligned with a broader global pivot in the dairy industry toward higher-fat products like butter and cream, supported by rising butter prices and stagnant skimmed milk powder prices. The shift in global production and consumption patterns continued to influence the availability and trade dynamics of milk powder in the Caribbean.

Production milk powder with fat content of >1.5% in Caribbean

In kind, 2017-2020, t

Top producers of milk powder with fat content of >1.5%, 2017-2020

World map of production of milk powder with fat content of >1.5%, 2017-2020

Caribbean's production of milk powder with a fat content exceeding 1.5% has declined for the third consecutive year. In 2020, the region produced 4 565 tons, marking a significant 10.7% decrease compared to the previous year. Looking at the period from 2017 to 2020, production fell by 30.6%, which translates to an average annual decline of 11.5%.

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

Exports milk powder with fat content of >1.5% from Caribbean

Exports in kind, t

The export market for this product showed considerable volatility during these years. Export volumes reached their lowest point in 2018 at 125 tons and peaked in 2019 at 1 006 tons, representing an eightfold difference between these two years. In 2020, Caribbean's exports of milk powder with a fat content over 1.5% dropped sharply to 180 tons, an 82.1% decrease from the previous year. The most substantial increase occurred in 2019, with a remarkable 703.7% surge.

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

Between 2017 and 2020, the largest buyers of Caribbean's milk powder with a fat content above 1.5% were Venezuela, accounting for 34.6% of exports in kind, Ireland with 8.8%, and France at 2.5%. However, even combined, these three markets represented only 45.9% of total exports, indicating a broadly diversified partner base.

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 export value data reveals irregular changes, pointing to a volatile market environment. The value reached its maximum in 2019 at 6.1 million US dollars and dropped to 0.6 million US dollars in 2020, showing a 10.3-fold difference between these years. This represents a sharp 90.2% decline from 2019 to 2020. The largest increase was recorded in 2019, with a 343.4% rise.

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

From 2017 to 2020, the value of Caribbean's milk powder exports with a fat content over 1.5% was distributed across numerous markets. Venezuela was the largest buyer, accounting for 39.1% of exports in value terms, followed by Ireland at 4.1% and France at 3.0%. Together, these three countries represented just 46.2% of total export value, reflecting a highly diversified partner structure.

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 powder with fat content of >1.5% to Caribbean

Imports in kind, t

Caribbean imported 1 000 tons of milk powder with a fat content exceeding 1.5% in 2020, a 7.1% decrease from the previous year. Over the 2017-2020 period, imports declined by 9.3%, with an average annual decrease of 3.2%. The largest increase occurred in 2019, with a modest 1.1% rise.

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

During 2017-2020, the main suppliers of milk powder with a fat content above 1.5% to the Caribbean were New Zealand, contributing 19.8% of imports in kind, the Netherlands at 15.9%, and Uruguay with 14.1%. Together, these three countries accounted for 49.7% of total imports, but against a backdrop of many smaller partners, no single supplier dominated the market.

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

After a two-year decline, the value of Caribbean's imports of milk powder with a fat content over 1.5% increased in 2020. Imports reached 233.5 million US dollars, representing a slight 2.7% rise compared to the previous year. The lowest value was recorded in 2019 at 227.5 million US dollars, with the largest decline that year at 2.9%.

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

From 2017 to 2020, the country breakdown of import values remained scattered. New Zealand led with 19.2% of imports in value terms, followed by the Netherlands at 15.6% and Uruguay with 13.0%. Combined, these three suppliers accounted for only 47.9% of total import value, with no single partner emerging as clearly dominant.

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

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