Date: September, 2008
Abstract: International prices for dairy products reached record levels in 2007, following several years of steady growth in global demand. Until the end of 2006, a run-down of stocks, mainly in the United States (US) and the European Union (EU), helped to bridge the gap between global production and consumption. However, as these surplus stocks were depleted, it became apparent that global supply was struggling to keep pace with the growth of global demand, prompting prices to rise. Moreover, although pr...
Research Type: F&A Review