Limited demand restrains prices: An overview of the global dairy market

Published May 16, 2023

Tridge summary

High milk season in Europe leads to increased production, with EU member states increasing milk production by 0.5% in March. However, the EU predicts a decrease in milk production and a reduction in the number of cows by 2030 due to existing production volumes not meeting market needs. There is a surplus of raw milk in Europe, and consumers are reducing dairy product consumption due to food inflation. Alternative food products are also taking market share away from European dairy farmers. In China, the government aims to reduce the country's dependence on dairy imports by increasing its own raw milk production. In the US, there is a sufficient supply of raw milk, but there is a decrease in the purchase of dairy products by public catering establishments and restaurants due to inflation.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

This was reported by the analyst of the Association of Milk Producers, Georgy Kukhaleishvili. Production and demand Europe. In the European market, the high milk season continues, when cows are increasing lactation, and the production of raw materials is increasing. According to Eucolait Secretary General Yukki Likitalo, EU member states increased milk production to 11.12 million tons (+0.5%) in March. According to clal. it, in March, such leading European dairy countries as Ireland increased milk production to 817,000 tons (+52%), Italy to 1.15 million tons (+9.7%) and Poland to 1.3 million tons (+9 .75%). In Lithuania, milk production grew to 102,000 tons (+8.82%). AHDB reports an increase in the volume of milk in the UK to 1.08 million tons, which is 1.2% more than in March last year. A certain stabilization of feed and fertilizer prices, a sufficient supply of grain on the market and favorable weather conditions contribute to the growth of raw material production. However, the ...

Source: MilkUA