The report, which was compiled by IFCN (International Farm Comparison Network), found that the growth in the global population will see demand for dairy products continue.

Torsren Hemme, managing director of IFCN, said: «There will be one billion more consumers on this planet that will have demand for milk products. Globally seen, each person will consume 13kg more in milk equivalent over ten years (ie 127kg per person in 2025). Therefore, the level of global milk supply will also keep growing, provided that the consumers still have positive preferences for milk and the political and overall economic situation is stable.»

Milk price will be the major driver of any expansion in milk supply. IFCN estimates a milk price of $41/100kg milk (40 c/l) at 4% fat and 3.3% protein, which is much higher than present levels. This milk price would allow the expansion of 208mT, which would be about 38 times Irish milk production.

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