In 2020, global milk production grew by 2.3%

Published 2021년 1월 18일

Tridge summary

The dairy production industry experienced a growth in 2020, primarily driven by Latin America, the United States, Australia, India, the CIS, and China. This growth is attributed to government support and favorable feed conditions. There was a 2.2% increase in demand for dairy products and a 1.4% increase in per capita milk consumption, mainly due to population growth. However, the dairy industry escaped the worst of the COVID-19 pandemic's impact in 2020. The average world milk price remained at $36.5 per 100 kg in 2020, with prices rising to $38-42 per 100 kg post-New Year. The prices for milk powder increased by 5.8%, while butter prices decreased by 14.4%.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The main growth in production was provided by Latin America, the United States, Australia and India, as well as the CIS and China. According to the analyst of the international analytical network IFCN Milisha Kosyka, the increase should be seen as a return to the positive dynamics after the negative indicators of 2019. The increase in production in 2020 was facilitated by government support for the sector in many countries, as well as favorable conditions for feed production in most regions. Demand for dairy products increased by 2.2% last year, and per capita milk consumption - by 1.4%. According to experts, the increase in demand was mainly due to the population growth in these countries by 0.8%. The level of consumption was also positively affected by government programs adopted in some countries that promote the consumption of dairy products as healthy for the population. In particular, similar initiatives are active in China, Brazil and the United States. IFCN expert Philip ...
Source: Landlord

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