The structure of Ukrainian exports of dairy products has changed significantly over the past year: the share of butter and other dairy fats in foreign currency earnings has more than halved, while dry and condensed milk has become the largest export category, according to the analysis of the Union of Dairy Enterprises of Ukraine (SMPU).
In August 2025, butter and other dairy fats of product heading 0405 accounted for 36% value of Ukrainian exports of dairy products, while in August 2026 their share decreased to 15%. At the same time, the share of dry and condensed milk increased from 24% to 37%, and that of whey - from 5% to 11%.
The change in structure occurred gradually. Oil's share was 36% in August 2025, falling to 25% in October, 22% in March 2026 and 15% in August. At the same time, the share of dry and condensed milk increased from 24% to 24%, then to 35% and 37%, respectively. Thus, the break in the structure of Ukrainian dairy exports took place mainly between the fall of 2025 and the spring of 2026.
According to the assessment of the State Agricultural and Rural Development Agency, one of the factors was the situation on the world milk fat market. Butter prices have been under pressure, with the Global Dairy Trade index at the end of 2025 declining for nine consecutive auctions. Since the structure of exports is calculated in terms of value, the decrease in the share of butter is related not only to the physical volumes of deliveries, but also to changes in world prices.
At the same time, experts call the most noticeable structural change the growing role of whey. Its share in export revenue has more than doubled over the year. In August 2026, dry and condensed milk, together with whey, already accounted for 48% of the export value of Ukrainian dairy products.
The share of cheeses, which belong to products with a higher added value and a potentially higher margin, practically did not change — about 24% in August 2025 and 25% a year later. Thus, the structure of Ukrainian dairy exports is shifting more and more towards stock and commodity goods.
This trend is developing against the background of the general deterioration of the foreign trade balance of the dairy industry. According to data published on September 2 by the Ministry of Education and Culture, in January-August 2026, Ukraine exported dairy products worth $176.9 million, which is 20.5% less than in the same period last year. At the same time, imports increased by 24.7% to $247.2 million.
In natural terms, the export of butter decreased by about half in eight months, and supplies of dry and condensed milk decreased by 7%. At the same time, the export of fermented milk products increased by 28%, whey - by 1.1%, and cheese - by 0.9%.
As a result, Ukraine moved from a positive trade balance in dairy products to a negative one. For January-August 2026, the deficit amounted to $70.3 million, while a year earlier the positive balance reached $24.1 million. The ratio of exports to imports decreased from 1.12 to 0.72.
On the import side, cheeses remain the largest category, as before, although their share decreased from 82.3% to 76.9% in August. At the same time, the share of imported milk and cream, whey and butter has increased, which increases competition for Ukrainian processors in the domestic market.
SMPU unites Ukrainian producers and processors of milk and represents the interests of enterprises in the industry. The organization was founded in 2001.
Original source: analytics of the Union of Dairy Enterprises of Ukraine on Ua Dairy
