Industry association Dairy Australia found that Australian milk production this year has grown significantly for the first time in a decade, according to its most recent report. It is expected to hit just under 9.5 billion litres in 2012-13, up from 9.1 billion last season, a 4% increase. Unfortunately, the same or better conditions have prevailed in all major exporting regions, resulting in an extra 7.4 billion litres of milk produced globally last year, and an additional 6.2 billion litres forecast for 2012.
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