Australian dollar holds back dairy industry profitability

摘要

World dairy prices are forecast to improve, according to the latest (December) issue of Australian Commodities, published by the Australian Bureau of Agricultural and Resource Economics (ABARE). In particular, international prices for cheese are predicted to average 17 percent higher in 2003/04 at around US2 070 dollar/tonne. The report notes that prices for processing cheddar in October 2003 were 34 percent above those a year earlier. This increase is expected to moderate as cheese production in the US and the EU rises over the next six months.