What are the biggest challenges that international dairy industry faces going forwards?
JB: The biggest challenges will come from nutrition and environmental issues. But without any doubt the industry is readily prepared to innovate in both areas. And one of the innovations that I think you will see, is a greater move towards lower fat dairy products. That’s happening already and you’ll see a continuation of that. Generally we forsee continued demand for dairy products. The consumers around the world love milk so the future is bright for the industry. One challenge stemming from that will be the balance between supply and demand. In terms of the cost of feed that is falling again. There has been a significant increase in farm costs around the world however the higher price has elicited a production response and feed prices are now falling.
