In the comparison between June and July, dairy sales recovered strongly. But activity remained unchanged in year-on-year terms.
Despite the marked improvement, the cumulative total for the period January-July 2024 shows a drop of 14.8% in product volume and 12% in equivalent liters of milk (-12.7% on the daily average).
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The dairy products for sale rebounded significantly in July, growing by 28% in volume and 25.1% in equivalent liters of milk compared to June, but so far this year it is still below the level recorded in the same period in 2023.according to the Argentine Dairy Chain Observatory (OCLA).
The monthly recovery in sales allowed for a 21% increase in the daily average of litres of milk equivalent to dairy products purchased. In the year-on-year comparison, the improvement was smaller, with a 0.1% decrease in volume and a slight increase of 0.2% in litres of milk equivalent.
The data represents a revival in the dairy market compared to the June figures, which had marked a 12.7% decline in sales in volume and 11.5% in litres of milk equivalent in the monthly variation, while in the year-on-year comparison the fall had reached 23.5% in volume and 20.4% in litres of milk equivalent.
OCLA thus highlighted that “it can be clearly seen that in July 2024 the value is equal to that of July 2023 and 2022, indicating a significant recovery in consumption levels.”
Along these lines, they stressed that “In the last month, a significant recovery can be observed in all product categories, regardless of commodities and added value, compared to the previous month, and in the interannual monthly period, an increase in the three main types of cheese, refrigerated milk and yogurt.”
Despite the marked improvement, The cumulative total for the period January-July 2024 shows a drop of 14.8% in product volume and 12% in equivalent liters of milk (-12.7% on the daily average).
In this regard, the study stated that there was “a very significant drop in all categories, with cheese showing the smallest reduction in equivalent liters,” while “products with higher added value and per unit, such as very soft cheeses, grated cheeses, flavored milks, yogurts, flans and desserts showed a large drop associated with price increases and the delay in the purchasing power of the middle sector of the population that demands these products in greater quantities.”
Likewise, the analysis that evaluates the Dairy Balance for the period January-July 2024 “determined a drop in total domestic consumption of 14% and 15% in per capita consumption, always measured in equivalent liters of milk and on this occasion corrected in number of days of the period, which means an improvement of 2.3 percentage points compared to the accumulated balance as of June.”
By taking the Value of the Equivalent Liter of Milk marketed in the Domestic Market and comparing it with the Registered Salary, the report revealed that in recent months there has been an increase in the purchasing power of the same measured in Liters of Milk Equivalent (LLE).
Source: Ambito
