Excess milk supply to ease China's market in second half of year

China's milk supply glut will persist in the first half of next year. The situation will normalize in the second half of the year thanks to efforts by Chinese regulators, the Ministry of Agriculture and Rural Affairs predicts. "The number of dairy cows in the herd is gradually being adjusted and optimized, and the overall volume of milk production remains stable. The supply-demand imbalance in the dairy industry is expected to gradually ease in the second half of next year, but the excess milk supply will continue to exert quite strong pressure in the first half of the year," Reuters quotes the agricultural ministry as saying. In September, the authorities issued recommendations to control the volume of dairy production. Among other things, they provide for the optimization of herds by culling old and less productive cows, as well as measures to further stimulate consumption. The number of dairy cows began to grow in 2018, when the Chinese authorities took a course on developing ...