date:Mar 25, 2014
ease.
* Brazil: A drought in the Southeast, coupled with weak local demand growth is expected to slow Brazilian supply growth, simultaneously reducing import activity as supply expands faster than local demand.
* Argentina: In the context of a depreciating peso and economic uncertainty, Rabobank expects only modest year-over-year production growth, particularly as margins are eroded from milk prices rising slower than costs.
Rabobank's report on the global dairy industry in Q2 2014 is available