Celebrate by raising a glass of milk, ghee, cream, crud or lassi. Happy #WorldMilkDay and #HappyCows. In the global market there are 8 largest milk producing countries including, Argentina, Australia, Europe, India, The US, New Zealand and others which account for more than 50% of the total milk production. In terms of total dairy products imports China, Russia, Mexico, Japan and the US are the top 5 leading importers however among these the US is leads in terms of being an importer and largest exporter as well.
In recent years total milk output has witnessed a slowdown whereas Cheese and Butter categories showed an upward trend in demand worldwide. Nonfat dry milk powder has also gained in terms of demand from various parts of the world. Along with falling milk production, milk powder prices have also witnessed a fall and expected to continue the trend in 2016. Low milk prices, high interest rates and lack of capital have become major factors of fall in milk production.