EU production forecast revised down for 2018

Published 11 July 18

The European Commission has updated its short term outlook for dairy markets, lowering its growth forecast from 1.4% to 1.2%. Little growth is anticipated in the second half of the year to compensate for the lower than expected production in the first half of 2018, particularly from the key supplying countries of Denmark, France, Ireland, the Netherlands and the UK.

In terms of dairy products, production is forecast to be around 2.1 – 2.6% higher than last year for butter, cheese and SMP. Both domestic and export demand remains strong for the key dairy products, meaning there is not expected to be any significant build-up of stocks during the year.

11.07.18 EU short term outlook