Dairy Industry to invest €700 million
In the next couple of years, Dutch Dairy companies are going to invest over €700 million in processing plants in the Netherlands, according to the Dutch Dairy Association’s study on Thursday.
Minister of Economic Affairs Sharon Dijksma said the dairy industry plays an essential role in the economic sector as it generates billions in revenue as well as work opportunities.
Dutch Dairy Association or NZO said majority of the funds will be spent in factories for baby food and cheese and in construction of innovation centers. These investments are projected to produce no less than 1,000 jobs.
This sector is responsible for 44,000 jobs. Dairy farming’s production value is €4.3 billion while the dairy industry is about €6.4 billion.
Because of exports, the dairy industry has expanded more than the rate during the time before the financial crisis hit. The export value of dairy products is increasing at a yearly average of 7 percent.