Quarterly Argentina Milk Production Update – Dec ’19
Executive Summary Argentine milk production figures provided by the Argentina Ministry of Agriculture were recently updated with values spanning through the end of the first half of the ’19-’20 production season. Highlights from the updated report include:
- Argentine milk production increased on a YOY basis for the fifth consecutive month during Nov ’19, finishing up 2.0%. 2019 YTD Argentine milk production volumes have declined by 2.3% on a YOY basis however USDA is projecting production will rebound by 1.5% on a YOY basis throughout the 2020 calendar year.
- USDA is projecting the Argentine dairy cow herd will increase 1.4% throughout 2020, rebounding from the long-term record low levels experienced throughout 2019.
- Argentina is the fifth largest global dairy exporter, accounting for 2.5% of combined butter, cheese, nonfat dry milk and whole milk powder exports throughout 2018. The bulk of Argentine dairy exports are in the form of whole milk powder and cheese.