date:Jul 31, 2015
ofitable growth is becoming more challenging, the bank said.
MA values fall
The bank estimated that the 20 largest dairy companies generated sales of $23bn in 2014.
This represents a nominal growth of 5%, although Rabobank pegged retail dairy price inflation at 4-5% in key market over the same period.
Slow economic growth and high pricing ensured only fractional volume growth in the key EU, US and Chinese dairy markets in 2014, said Rabobank, while sales in many emerging markets were reduced