Dairy

Australian dairy farmers to miss out on global milk boom

2 January 2019

Peter Hemphill, The Weekly Times
2 January 2019

AUSTRALIAN dairy farmers are unlikely to be able to capitalise on forecast growth in the global dairy market over the next five years.

Declining Australian milk production means local farmers will miss out on big demand for dairy products anticipated from China and South-East Asia.

European food and drink research organisation Gira has forecast global dairy consumption to rise 126.7 billion litres milk equivalent within five years from today’s level of about 650 billion litres milk equivalent.

More than 75 per cent of that is in India and Pakistan, both of which are largely self-sufficient in production.

Excluding those two countries, Gira estimates consumption growth in the rest of the world over the next five years to be 31.5 billion litres milk equivalent, about three times Australia’s current production.

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