AP-Food Technology reports Rabobank has extended its timeline for India and China to be self-sufficient in the global dairy market.
Rabobank initially predicted China and India’s thriving dairy markets to be self-sufficient soon, however it now predicts those countries will take three or four years and will regularly call on the world market prior to becoming self-reliant.
Dairy product prices are expected to increase as a result of rising demand in China and India. Both countries have a big influence on world markets. Buyers’ willingness to purchase more expensive dairy products will limit the price hike.
“Another source of demand has arisen for internationally traded dairy products, and that demand will be difficult to fill without a sustained period of high prices to encourage more milk contributions from higher cost regions,” said Rabobank.
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