OECD-FAO Agricultural Outlook 2007
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Dairy
The underlying market drivers affecting the projections for the dairy sector largely remain as reported in previous versions of this report. However, the recent surge in dairy prices, which have been already on the upswing from a trough in 2002-03, has displayed the driving forces for dairy markets with more clarity. Fundamentally, underlying economic growth in many countries, particularly in south and south-east Asia, but also in parts of South America, is increasing the demand for dairy products which are income sensitive. Demand continues to be also encouraged by the growing influence of retail chains and multinational companies which is facilitating consumer access to dairy products and in many countries also by government programs (i.e. school milk). On the other hand, reforms of dairy support policies, particularly in Europe, but also elsewhere in developed countries, have severely limited or reduced exportable surpluses from these countries. These developments are expected to underpin higher dairy product prices.
Also available in: French
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