Dairy prices forecast to ease as demand for imports falls

摘要

GLOBAL demand for dairy products is projected to continue growing over the medium term, with prices expected to ease from current highs, as global exports to 2010 grow faster than import demand, according to the latest report of the Australian Bureauof Agricultural and Resource Cconomics (ABAKE). The report says that international dairy prices have been rising since mid-2002. Drought affected production in Australia and New Zealand, and combined with supply quota-induced limitations in EU milk production growth, was a key factor affecting world prices in 2002/03.