IFCN report published

The International Farm Comparison Network’s (IFCN) Dairy Report 2014 was recently published. This is the 15th publication of this comprehensive report on dairy farming globally. The following are the key messages of the 2014 publication: Milk production cost in 2013 was lower than in 2012 for most countries. The average global producer price in 2013 was equal to R4,74. This, coupled with lower production cost, resulted in higher production in 2013. Market recovery will result in faster demand growth that production growth will not be able to meet. According to MPO economist Dr Koos Coetzee, South African IFCN research partner, South African milk producers once again compared favourably with producers in other countries in terms of efficiency and production cost.