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GLOBAL MILK PRODUCTION STILL ‘GROWING’ – RABOBANK

There is likely to be lower milk production in the EU and the US during 2023 which could “stabilise” global market prices, according to a new report from Rabobank.


There is likely to be lower milk production in the EU and the US during 2023 which could “stabilise” global market prices, according to a new report from Rabobank.


Overall global milk production is still rising but, according to the bank, it is “losing momentum”.


In its latest Global Dairy Quarterly report, Rabobank also warned that there are signs of weakening dairy demand in some markets.


“The cumulative effects of high food-price inflation over the past 24 months, in most cases significantly higher than salary growth, along with slowing economic activity in 2023 have translated into lower dairy demand in developed and emerging markets,” it stated.


Damián Morais

June 13, 2023

edairynews.com

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