Dairy exports from Argentina and Uruguay are showing contrasting trends against a backdrop of slowing regional trade, according to edairynews. Whilst Argentina is facing a decline in prices, volumes and the number of markets, Uruguay is increasing its exports, even despite a fall in export value.

Argentina: falling milk prices and export volumes

In the first half of February 2026, exports of dairy products from Argentina showed an overall decline across all key indicators.

The average export price stood at $3,423.61 per tonne, which is 3.56% lower than in the second half of January (when it reached $3,549.79/t).

Export volumes fell sharply by 37.04% — to 13,222 tonnes compared with over 21,000 tonnes in the previous period.

Furthermore, the number of export markets fell from 43 to 29, representing a 32.56% reduction in the geographical scope of exports.

These figures point to a weakening of external demand and a decline in activity in the milk market, in line with trends observed in previous periods.

Argentina’s main export categories:

  • Whole milk powder (WMP): $3,428.07 (+1.96%), 5,366.40 tonnes
  • Skimmed milk powder (SMP): $2,978.34 (–24.10%), 1,290.23 tonnes
  • Semi-hard cheese: $3,898.86 (–0.62%), 3,270.06 tonnes
  • Hard cheese: $6,116.22 (+0.02%), 467.76 tonnes
  • Butter: $4,787.30 (–0.02%), 798 tonnes
  • Buttermilk: $2,440 (-0.18%), 125 tonnes
  • Whey permeate: $625.79 (–3.58%), 714.80 tonnes
  • Partially Demineralized Whey (D 40%): $1,200.08 (-4.95%), 629.79 tonnes
  • Whey Protein Concentrate (WPC 35%): $2,637.42 (–10.36%), 427.48 tonnes
  • Whey Protein Concentrate (WPC 80%): $7,220.12 (–0.76%), 133.68 tonnes

Uruguay: exports on the rise despite cheaper milk

Unlike Argentina, Uruguay showed a different trend in the first half of March 2026 — the fall in prices was accompanied by a sharp rise in export volumes.

The average export price stood at $3,395.99 per tonne, which is 11.72% lower than in the second half of February ($3,846.87/t).

At the same time, the volume of supplies rose by 66.49% — to 9,309.72 tonnes compared with 5,592.2 tonnes in the previous period.

The number of markets remained stable — 25 destinations, indicating that the structure of exports has remained unchanged.

This result points to a strategy of promoting products more actively through more competitive pricing.

Uruguay’s main export categories:

  • Whole milk powder (WMP): $3,347.3 (–5.35%), 7,481.07 tonnes
  • Skimmed milk powder (SMP): $3,093.46 (+3.80%), 756.87 tonnes
  • Semi-hard cheese: $4,367.06 (+2.00%), 198.07 tonnes
  • Hard cheese: $5,907.86 (+11.70%), 127.23 tonnes
  • Butter: $4,715.34 (–14.94%), 470.77 tonnes
  • Buttermilk: no exports were recorded
  • Partially Demineralized Whey (D40%): $1,442.51 (+0.99%), 276.71 tonnes

The regional milk market: different response models

The situation in Argentina and Uruguay illustrates two different models of adaptation to changes in the global dairy market:

  • Argentina is reducing the volume and scope of its exports amid falling demand
  • Uruguay is increasing its exports by adopting a more competitive pricing policy

Both trends reflect a general slowdown in international trade in dairy products and the market’s growing sensitivity to changes in demand.

Source: edairynews