IFCN: 5 reasons for crisis on the global dairy market
Источник: The DairyNews
IFCN Director Torsten Hemme pointed out 5 reasons of the price crisis faced by the global dairy market. This was announced at the 17th IFCN Dairy Conference held in Ghent (Belgium) from 6 to 8 June 2016, reports The DairyNews.
According to the expert, the industry started entering the crisis gradually since 2012.
1. High global prices for feed and extremely bad weather conditions contributed to the drop of raw milk production rate what became reason for milk price growth.
2. Price growth caused production increase in 2013-14.
3. In 2014-15 a combination of causes impacted the demand on the global market:
- High prices caused consumption decrease and milk fat substitution;
- Economic performance of almost all countries showed decrease;
- Russia imposed food embargo due to political motives;
- Consumption in China dropped;
- Venezuela left the global dairy market.
4. In 2015 EU abolished the milk quotas. This inspired European producers to increase milk production.
5. Feed prices drop allows the farmers to be more stable when the milk price is low.
1. High global prices for feed and extremely bad weather conditions contributed to the drop of raw milk production rate what became reason for milk price growth.
2. Price growth caused production increase in 2013-14.
3. In 2014-15 a combination of causes impacted the demand on the global market:
- High prices caused consumption decrease and milk fat substitution;
- Economic performance of almost all countries showed decrease;
- Russia imposed food embargo due to political motives;
- Consumption in China dropped;
- Venezuela left the global dairy market.
4. In 2015 EU abolished the milk quotas. This inspired European producers to increase milk production.
5. Feed prices drop allows the farmers to be more stable when the milk price is low.
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