It contains ABARES’ latest outlook for Australia’s key agricultural commodities in 2015-16. This updates the March 2015 outlook. This edition of the publication includes reforms to dairy support policies in the European Union and looks at El Nino and agricultural production.
Key points for the dairy outlook are:
- world dairy prices are forecast to increase in 2015–16 as a result of slower growth in milk production from key exporting regions
- demand for dairy product imports from China and the Russian Federation is expected to remain lower than previous years
- Australian milk production is forecast to increase because of higher milk yields