Fitch Ratings warns rise in European milk production will delay price recovery beyond 2016

Fri, 01 Apr 2016

By Fiona Rotherham April 1 (BusinessDesk) - Credit rating agency Fitch Ratings said continued growth in European milk production to ramp up exports will further delay a recovery in global milk prices until beyond the end of this year. The supply growth has been compounded by weak demand, mainly due to subdued Chinese demand and a Russian embargo on major Western dairy exporters. Average prices on the GlobalDairyTrade auction fell by around 38 percent in 2014/15 and around 20 percent in the 2015/16 season to mid-March. Fitch said tha...

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