Record global milk production in 2013

The recently released IDF World Dairy Situation report indicates that global milk production has increased by 1,3% to 782 million tonnes in 2013 and is estimated to increase to 805 million tonnes in 2014. Global dairy demand continues to grow and per capita consumption increased from 109,4 kg in 2012 to 109,6 kg in 2013. Population growth combined with per capita consumption growth resulted in strong demand growth. The main reason for the increase in per capita consumption is the growth of emerging markets through urbanisation, increased income and changes in social structures. These factors drive the movement towards higher protein intake. According to the report, price volatility will remain a key element of dairy markets. The January issue of The Dairy Mail will contain a comprehensive article on this report.