Downwards international dairy product price cycle at an end

According to Dr Koos Coetzee, MPO economist who attended the 18^th annual congress of the International Farm Comparison Network (IFCN) in Kiel, the consensus opinion of delegates was that the crisis is over. 

The large volatility of dairy product prices experienced since 2014 has come to an end. This was the consensus of the delegates attending the 18^th conference of the International Farm Comparison Network (IFCN)  in Kiel, Germany from 12 to 14 June 2017.

Lukasz Wyrzykovski, IFCN analyst, presented the IFCN’s short-term dairy outlook. Milk production growth for 2017 is estimated at 16 million tonnes of energy-corrected milk (ECM), up from 9 million tonnes ECM in 2016. Dairy demand is expected to grow by 14 million tonnes in 2017, increasing to 20 million tonnes in 2018. Global dairy stocks, estimated at 9 million tonnes ECM in 2016, is expected to decrease slightly to 2017 and remain stable in 2018.

The conference was attended by dairy scientists from 45 countries.  Dr Coetzee was honoured at the conference for his contribution to the IFCN Network.  His attendance is funded through the Industry Information project of Milk SA. To read more, click HERE.