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Over the past few years, revenues of the Australian cheese and other dairy product manufacturing industry have been declining, owing to continued drought conditions in many parts of the country, high feed costs and a shrinking cattle herd. Moreover, the recent bushfires have destroyed nearly hectares of land, including farms in Victoria and New South Wales, which are the major milk production centers in the country. This is set to further impact sales in the short to medium term.

Imports on the rise

As local production has reduced in recent years, imports have been steadily rising, further adding to the woes of local players. According to the Australian Bureau of Statistics, ** tonnes of cheese was imported in **, with New Zealand being the main exporter, followed by the U.S.

Covid-19 to further impact industry

The Covid-19 has brought various industries in Australia to a virtual standstill. Although the dairy industry is still functioning internally, exports and imports with nations such as China and the U.S. have been disrupted and this is set to impact industry revenues in the short to medium term.