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YoY Growth of Raw Milk Production in February Shrank, But Production Index Broke the Record in Five Years, Indicating A Strong Momentum

By CnAgri 2020-04-08 16:44:11 Print Tel:861064402118-822 Email: chen.wang@boabc.com

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As per data on raw milk production by collection stations from the MOA,  raw milk production by the collection stations in January and February 2020 was up 7.5% and 9.1% YoY respectively. Of which the raw milk production index in February was 112.65. BOABC estimates that raw milk production by the collection stations in February should be about 1.8 million tons.
Considering that February 2020 has one day more than in February 2019,  the YoY growth of raw milk production during the first 28 days of February should not be up to 6%,  lower than the 7.5% in January,  meaning the growth of raw milk production narrowed due to the impact from the COVID-19 outbreak.
It should be noted that the monthly production index is still 112.65 (based on 100 as in January in 2015) despite the shrinkage of the YoY growth rate,  the highest level in the recent five years. This reflects stabilization and surge of dairy cattle inventory,  and there is a strong raw milk production momentum while there is rise of cow yield.
(Note: as per monitoring by MOA,  raw milk production by collections was 20.44 million tons in 2019,  up 5.5% YoY; the National Bureau of Statistics announced raw milk production in 2019 was 32.01 million tons,  up 4% YoY)

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