Dairy Exporter Is Betting That Soy and Oats Won't Replace Cow Milk
- Uruguay’s Conaprole opens dairy plant with eye on exports
- Butter bull market has legs with firm demand, chairman says
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Conaprole is betting against widespread global substitution of cow milk as the Uruguayan dairy cooperative opens a new $35 million plant to make premium products such as infant formula.
Changing consumer tastes in the U.S. and other developed countries where milk consumption has been falling for decades have spurred dairy companies such as Dean Foods Co. and New Zealand giant Fonterra Cooperative Group to invest in makers of plant-based yogurt or bio-engineered proteins.