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Full Access Globalization and World Dairy Trade: An Assessment

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Globalization and World Dairy Trade: An Assessment

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The study explores the pattern and trend on global dairy trade and changes resulting from globalization being introduced under the auspices of the WTO. The results suggest that WTO has failed to increase the growth pace of value of world dairy trade and to reduce the world dairy markets volatility. The study finds that global dairy trade has been dominated by developed countries. Developed countries are net dairy exporters. Conversely, developing and least developed countries are net dairy importers. During post-WTO phase, least developed countries’ dairy trade deficit has expanded significantly. Developing world has been the largest producer as well as consumer of dairy products. Given thinness and increasing volatility of world dairy markets, it would be prudent for developing countries to increase the investment in dairy industry for enhancing the growth pace of dairy production to meet their faster growing demand.

Affiliations: 1: Assistant Professor, Department of Business Economics, Maharshi Dayanand University, India, Email:, URL:


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