The Australian Bureau of Agricultural and Resources Economics released its monthly report yesterday (19 December) and revealed a boom forecast for the dairy industry for 2000-2001. According to the bureau, milk production is due to rise by 16.8% to a record A$2.2bn over the coming year, however domestic milk will see its value drop by around a third to A$600m.

Exports should surge to A$3.3bn, a figure up 36% on last year and largely consisting of cheese and skimmed milk.