Dairy demand across several countries in Southeast Asia is on track to outpace local supplies, opening an opportunity for international dairy producers, including the United States.
According to International Business Times, demand for dairy in Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam -- member countries of the Association of Southeast Asian Nations (ASEAN-6) – will require annual milk imports to top 14 billion liters, 3 billion liters more than the region imported in 2012.
“We expect dairy consumption across ASEAN-6 to grow by 2.4 per cent per year through to 2020. This creates a requirement for an extra 3 billion liters of milk which local players are ill-equipped to deliver,” said Michael Harvey, an analyst from Rabobank.
The Phnom Penh Post, a Cambodian newspaper, suggests that several factors play a role in this demand, including high birth rates, rising incomes, improving diets, growth in modern retailing, urbanization and countrywide school milk.
Recently, Thailand officials announced a new campaign in the country to spur milk consumption. The promotion encourages Thais to drink at least one glass of cow’s milk daily to increase the average height of young adults by 3 inches. Read more here.