While no upturn in the global dairy industry is being forecast until late this year, there are some positives in the outlook for the Australian dairy industry.
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Rabobank senior dairy analyst Michael Harvey said improving milk prices and favourable seasonal conditions were underpinning a recovery in Australian production and exports, with national milk production forecast to increase by 2.7 per cent in the 2017-18 season.
Most of the growth was coming from southern dairy export regions, particularly Victoria, Mr Harvey said.
He said while demand from Australia’s dairy export markets was slowing following robust growth, demand in emerging economies appeared to be strong with robust exports to key deficit regions including south-east Asia.
