U.S. exporting more cheese as Asia consumes more pizza

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Bloomberg reports Asia’s appetite for pizza, cheeseburgers and other items with cheese as a key ingredient has U.S. shipping record levels of cheese.

According to U.S. Dairy Export Council statistics Asia has received twice as much cheese from the U.S. in the first four months of this year compared to the previous year. The increased shipments have been primarily to South Korea and China who tripled and double imports respectively.

Wholesale cheddar-cheese prices have surged ahead 49 percent this year as a result of higher global demand led by Asia.

The growing global demand has helped the milk futures reach their highest levels in four years. Cheese shipments were at a record 173,531 tons in 2010 and if demand stays high a new record could be set in 2011.

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Source: Bloomberg

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