European Union (EU) member states are being urged to act ‘collectively’ and ‘responsibly’ to manage dairy market volatility following the end of milk quotas on 31st March 2015.
Milk quotas were introduced in 1984 to cap the production of milk to reduce overproduction and wastage. They were since withdrawn to enable EU farmers to sell more produce around the world. Global demand for dairy is predicted to grow 30% by 2024, with increased demand from the Far East and South Asia.
Commenting just before the quotas ended, NFU Dairy Board Chair Rob Harrison stressed that it was ‘vital’ for countries to take into account market opportunities when planning industry expansion.