Glanbia Exits Rabobank’s Global Dairy Top 20 as Grupo Lala Enters
Source: DairyNews.today
In a significant shift within the global dairy industry, Glanbia has been ousted from Rabobank’s prestigious Global Dairy Top 20 list. The annual report ranks the financial performance of the world’s largest dairy companies and cooperatives, highlighting the sector’s key players.
Glanbia, which only made its debut on the list last year, was replaced by Mexico's Grupo Lala, marking the latter’s first appearance in the Top 20. The Irish dairy giant's removal comes as a result of declining dairy-related revenues throughout 2023. Rabobank attributed this downturn to the dissolution of Glanbia’s UK and EU cheese joint venture with Leprino Foods, a move that significantly impacted the company’s financial performance.
Meanwhile, Grupo Lala benefited fr om a strong Mexican peso, which bolstered its financial results and facilitated its entry into the global rankings.
Rabobank’s latest report underscores the broader challenges faced by the dairy industry in 2023, noting that lower milk prices compared to the previous year were a key factor in the financial outcomes for many companies on the list. The report observed a "deceleration" in revenue growth across the industry, particularly among European cooperatives, with seven companies reporting lower revenues in their local currencies.
Despite these challenges, several companies managed to improve their profits and margins, demonstrating resilience in a volatile market.
French dairy giant Lactalis retained its position at the top of the list for the third consecutive year, becoming the first company ever to surpass $30 billion in annual dairy-related revenue. Nestlé secured the second spot, while Dairy Farmers of America, the largest cooperative in the United States, slipped to third place, primarily due to weaker milk prices.
Danone and Chinese dairy company Yili maintained their respective fourth and fifth positions, despite geopolitical and market pressures.
Glanbia’s exit from the Global Dairy Top 20 highlights the dynamic nature of the industry, wh ere shifts in market conditions and strategic decisions can rapidly alter the competitive landscape.
Meanwhile, Grupo Lala benefited fr om a strong Mexican peso, which bolstered its financial results and facilitated its entry into the global rankings.
Rabobank’s latest report underscores the broader challenges faced by the dairy industry in 2023, noting that lower milk prices compared to the previous year were a key factor in the financial outcomes for many companies on the list. The report observed a "deceleration" in revenue growth across the industry, particularly among European cooperatives, with seven companies reporting lower revenues in their local currencies.
Despite these challenges, several companies managed to improve their profits and margins, demonstrating resilience in a volatile market.
French dairy giant Lactalis retained its position at the top of the list for the third consecutive year, becoming the first company ever to surpass $30 billion in annual dairy-related revenue. Nestlé secured the second spot, while Dairy Farmers of America, the largest cooperative in the United States, slipped to third place, primarily due to weaker milk prices.
Danone and Chinese dairy company Yili maintained their respective fourth and fifth positions, despite geopolitical and market pressures.
Glanbia’s exit from the Global Dairy Top 20 highlights the dynamic nature of the industry, wh ere shifts in market conditions and strategic decisions can rapidly alter the competitive landscape.
23.09.2024
Carbon emissions in global milk production - the elephant in the room
I have been thinking to make this post yes/ no. I decided for yes and like to ask everyone to not "shoot the messenger". The chart shows an analysis of IFCN Dairy Research Network from the 2024 supporter conference in Poland.
