According to the US Department of Agriculture (USDA), the 2023 financial year was a challenging one for US dairy exporters, largely due to sluggish economic growth among importers and increased competition from New Zealand and the EU. This was revealed in its latest report on the global trends on the dairy market.
However, the report continues to state a weaker dollar had helped ‘cushion’ losses in price competitiveness. “Throughout the year, export values of non-fat dry milk, cheese and whey remained lacklustre, primarily due to weakening demand in China and Southeast Asia.
“Globally, higher interest rates impacted discretionary spending, particularly affecting dairy consumption, which is not a traditional staple of Asian diets,” says the report. However, despite this, Asia remains the most significant growth region for major exporter
In 2024, it is expected that US exporters will follow similar challenges.
“A combination of factors has impacted demand in key markets in Asia in 2023 and [are] expected to continue into 2024. In 2023, after the end of COVID-19 lockdowns, governments were under pressure to rein in fiscal spending and temper aggregate demand to combat a high level of inflation. Central banks have raised interest rates to increase the cost of credit, leading to slowing private business investment for manufacturing exports in markets like the Philippines and Thailand. The resulting slowing of GDP and income growth has had spillover effects on discretionary spending.
Diese Geschichte stammt aus der Farmer's Weekly 19 January 2024-Ausgabe von Farmer's Weekly.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der Farmer's Weekly 19 January 2024-Ausgabe von Farmer's Weekly.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
The big appeal of a small Karoo dorp
Van Wyksdorp in the Karoo may not be near to anything, yet exploring its surrounding mountain passes and staying there is a journey very much worth taking.
THE HITCHING POST
I am a retired man and have been a widower for two years. I would like to hear from fun-loving women between 50 and 60 years of age with a good sense of humour.
Theft of horsebox wheels: an ongoing problem
When thieves broke in at her farm recently, they came well prepared with the right tools to forcibly remove locknuts on wheels, says Dr Mac.
How much nitrogen is enough?
Nitrogen is key to profitable vegetable farming. However, the application of this element can be overdone, causing crop loss, or underdone, with the same result, writes Bill Kerr.
Review: Toyota Hilux GR-Sport III
Siyavuya Mbaduli takes a look at Toyota's highly anticipated GR-Sport Ill, which is making a strong entry into the local market as a rugged and ready off-road adventurer.
Medical cannabis production is easier said than done
The production of medical cannabis calls for extreme attention to detail and precision, as well as compliance with intricate legislative requirements and official demands. It also calls for perseverance, as Annelie Coleman found out on a visit to medical cannabis producers Coenie and Ilse Venter near Viljoenskroon in the Free State.
The biggest threats to horse health in South Africa
Janine Ryan looks at the most threatening diseases and conditions in South Africa that impact horses and other equines, including colic, laminitis and Cushing's disease.
Paper: part and parcel of the agriculture industry
Despite the everyday use of electronic communication and other technologies, society is far from becoming paperless. Wood-based paper products are woven into the fabric of our everyday lives. Paper is used in printing, writing and stationery, food packaging, packaging of other goods and medicine, for hygiene and insulation purposes, money, and even in jewellery and construction.
Challenges facing vet services in South Africa
Dr Paul van der Merwe, CEO of the South African Veterinary Association, spoke to Glenneis Kriel about the issues discussed at the World Veterinary Association Congress and how these related to the local industry.
Building a farming legacy from scratch
Mac Mabidilala is proof that you don't need to own land to get started in agriculture. He spoke to Glenneis Kriel about how he is realising his farming dream.