Dairy sector’s future bright, don’t listen to doomsday people

The future looks bright for the dairy industry as the world is adding 77 million people a year, Jeffrey Rosensweig, Director of the Global Perspectives Program at the Goizueta Business School at Emory University. Jeffrey told a breakfast session entitled “The Global and US Economic Forecast: Implications for the Dairy Industry” at the IDFA Dairy forum that the sector mustn’t listen to all doomsday people about how the economy is slow. “Across the world wealth is being generated at higher levels. While the stock market has taken a huge hit in 2016, this has little to do with the US and a lot to do with China’s economy. However, there is a lot of population density coming up right now, specifically in China and India, where growth is hitting 6% to 7% each year,” he said. According to Jeffrey, other top countries of growth where exports may become more successful include Indonesia, Turkey, Nigeria, and Mexico. “Fortunately, people have to eat. Your industry is not quite volatile as others. When you talk about volatility, there’s always a business cycle. You are not as subject to volatility, but of course you are subject to it,” he said. To read more about this, click HERE.