Monday, November 23, 2009

Dairy News from the MPI



DAIRY LEADS 3RD QUARTER EXPORT FIGURES

Boise--According to the Idaho Department of Commerce showed that dairy exports doubled during the third quarter of 2009, pumping more than $31 million into the state’s economy. The increase was fueled largely by the weakening dollar and an increase in demand for food products in foreign markets.

Total export sales by Idaho companies also experienced a solid increase in the third quarter of 2009, totaling nearly $1.09 billion for July through September. International sales of Idaho products for the three-month period were up nearly 24 percent compared to the previous three months. Nationally, exports for the same period rose 5.2 percent.

Significant declines in exports during the first three quarters of 2009 means Idaho is still far behind in its year-to-date results compared to 2008, when the value of state exports set a record at more than $5 billion for the full year. Compared to the third quarter of 2008, the most current quarter’s results are down 19.6 percent.

The top Idaho export category continues to be semiconductors, but exports of industrial equipment, mineral concentrates, paper and pulp exports, dairy products, and fruit and seeds also grew during the third quarter.

“This is not just a seasonal impact with the quarter-over-quarter increases this year,” said Damien Bard, administrator of the international division of the Idaho Department of Commerce. “While there are still challenges in Idaho’s export economy, these numbers give us reason to be cautiously optimistic.”

The top export destination for Idaho goods in the third quarter of 2009 was Taiwan, followed by Canada, China, South Korea and Singapore. In the most recent quarter, Idaho exported products to 112 countries.

Idaho companies export products ranging from integrated circuits to musical instruments to fresh produce. Idaho maintains trade offices in China, Taiwan and Mexico.

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