Global dairy industry optimistic
The dairy industry has emerged from the global financial crisis “shaken but not stirred” with a positive medium-term outlook, according to the Global Dairy Report – Beyond the Global Financial Crisis by agribusiness bank Rabobank.
Rabobank believes this year marks “the completion of a phenomenal boom/bust cycle in the global dairy market” and that the industry will begin to grow again on the back of upward trends.
Demographic and cultural trends supporting dairy consumption have been maintained, says report co-author Tim Hunt: “And, as per-capita income once more begins to increase in the coming years, global dairy demand is expected to rise steadily.”
Beyond 2010, the report expects the market to return to solid rates of demand growth, driven by rising per capita incomes, population growth, urbanisation, westernisation and government promotion.
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