IFCN: At the end of 2023, milk production growth in key exporting countries slowed down or turned negative
Source: The DairyNews
During the online meeting "IFCN Global Dairy Tech Mapping 2024," IFCN analysis reported that the growth of milk production in many exporting countries has slowed down or become negative. "This is due to the base year effect and a decrease in the profitability of farms," noted IFCN experts.
Exporting countries are experiencing trends of decreasing milk prices and consistently high production costs.
"Several factors have influenced the situation. High prices for feed (+39% year on year), fertilizers, construction materials... energy carriers. Overall, according to our estimates, global milk production growth in 2023 will increase by only 1.4%," stated IFCN experts.
"Several factors have influenced the situation. High prices for feed (+39% year on year), fertilizers, construction materials... energy carriers. Overall, according to our estimates, global milk production growth in 2023 will increase by only 1.4%," stated IFCN experts.
