Australian consumers will not be hit by a price surge in dairy products in 2023 despite the market outlook pointing to another strong year for farmers, a new report has shown.
According to the Australian Dairy Seasonal Outlook by Rabobank, a multinational financial institution specialising in food and agriculture banking, dairy prices are likely to remain high in the upcoming season, with the sector expecting its fourth consecutive profitable year.
However, the bank noted that consumers would face less price pressure due to a drop in input prices for dairy producers.
While data from the Australian Bureau of Statistics showed that dairy prices went up by 15 percent in the 12 months to March, Rabobank said the price hikes in the previous year would not repeat….