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European Union (EU) dairy prospects remain particularly favorable over the next decade, due to growing world demand, despite an expected deterioration of prices in the short term, according to a medium-term agricultural outlook report released this week by the European Commission.
Milk production “increased significantly” in the EU this year, but similar developments were also seen in other major milk-producing countries, the report noted. Developments in milk production in 2015 will be shaped by the end of milk quotas in April, and by the low EU milk prices prevailing at the beginning of the year.
Some EU member countries are currently still bound by the quota and, in order to avoid paying excessively large surplus levies due to lower milk prices, they will need to reduce their milk deliveries in the first quarter of 2015. This is particularly the case in Denmark, Germany, Estonia, Ireland, Latvia, the Netherlands, and Poland. Other major milk-producing countries are not bound by the quota.
EU milk deliveries are expected to increase steadily from 2016, but at a slower pace than before the abolition of the quota, to reach 158 million tons in 2024, which would be 12 million tons more than in 2014.
Most of the growth will take place in the EU-15