date:Sep 07, 2012
er production has grown faster than cheese production.
The growth is driven primarily by exports. Note the higher export levels shown in chart four (right) in 2008 required increased production as shown in chart one (above left) for 2008 and 2009.
Butter exports created an inventory shortage in 2008 which was recovered in 2009 with lower exports and continued high butter production.
Butter has reached equilibrium in 2012. Good production and exports well below the 2008 record year let inven