Australian Dairy Farmers Exporting Milk to China
Australian dairy farmers are looking to export their milk to China. Due to a supermarket price war in Australia, milk has been selling for $1.05US per liter, crippling dairy farmers' profits.
Australia already exports about 43% of its milk production and ranks third in the world dairy trade with around a tenth of the global market, according to Dairy Australia. Asia represents almost three-quarters of Australia’s A$2.75 billion of exports and China is its fastest-growing market.
Chinese consumers are also developing a growing taste for Australian and New Zealand milk after a spate of scandals involving tainted local milk, including one incident in 2008 that killed six babies and poisoned 300,000 others.