Browse Data and Analysis

Milk production in Australia in 2022 is forecast to decrease by over four percent to 8.6 million metric tons (MMT). Despite generally good production conditions for 2022, the slump in milk production is largely due farmers continuing to exit the dairy industry through farm sales and some dairy farms partially or fully transitioning to less labor-intensive beef cattle production.

Egypt reversed the widely criticized mandate by the Central Bank of Egypt for importers to utilize a process where letters of credit would substitute the long-established cash-against-documents process.