Stephen Cadogan: Why global milk production will start growing again

Rabobank, a global lender to food and agriculture, expects the combined Big-7 milk pool to return to growth between now and the end of this year.

For the first time in 20 years, there have been five consecutive year-on-year quarterly declines in global milk production. This rare market situation has resulted in high milk prices across most export regions, at record levels in some regions, but there are now signs of change.

Rabobank, a global lender to food and agriculture, expects the combined Big-7 milk pool to return to growth between now and the end of this year.