Quarterly Argentina Milk Production Update – Mar ’20
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 three quarters of the ’19-’20 production season. Highlights from the updated report include:
- Argentine milk production increased on a YOY basis for the eighth consecutive month during Feb ’20, finishing up 11.4% and reaching a four year seasonal high level. 2019 annual Argentine milk production volumes declined 1.8% on a YOY basis however USDA is projecting production will rebound by 1.5% 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 2.8% of combined butter, cheese, nonfat dry milk and whole milk powder exports throughout 2019. The bulk of Argentine dairy exports are in the form of whole milk powder and cheese.