Argentina: Dairy and Products Annual

Due to the severe drought, Post forecasts a slight decrease in dairy output, estimating a decline of just over one percent to 11,441,000 MT in volume by the end of 2023 compared to 2022. Projections for 2024 are complex as several factors could lead to a significant drop in production, particularly during the first half of the year. One major concern is the possibility of currency devaluation, which could have severe consequences. The Government of Argentina (GOA) announced on October 4, 2023, export duties on dairy merchandise and by-products would be lifted until December 31, 2023. However, the continuation of these duties will be determined by the results of the presidential election on November 19, 2023.