World milk prices may begin to strengthen somewhat in the coming months, given that international dairy markets have reached the bottom of their current supply.
This is the opinion of Torsten Hemm, Managing Director of IFCN Dairy Research Network, the International Farm Comparison Network, which he expressed at the recent Alltech One19 conference in Lexington, Kentucky.
According to Hemm, global demand for dairy products will continue to grow significantly in the coming years: "This will be due to the combination of accelerated population growth in the world and the fact that people in many countries include more dairy products in their diets."
Hemm also emphasized the important economic role played by the dairy sector throughout the world. “About one billion people work on dairy farms around the world,” he said.
Today, the dairy world serves more than seven billion consumers and provides livelihoods for approximately one billion people involved in the dairy chain. The IFCN representative also noted that global milk demand over the past 13 years has increased by 36%.
“Until 2030, the world's population will increase by 16%, to 8.7 billion people. As a result, another 1.2 billion consumers will need dairy products, ”said Torsten Hemm. According to him, in 2030 there will be 417 million dairy animals in the world.