China's 2012 Growth Target Downgraded - 12 April 2012

The Chinese government have downgraded the country's growth target for 2012 from 8% to 7.5%.

The lower target is due to the expectation that exports will reduce due in part to the European debt crisis and a continuing fragile US recovery.

China is one of the largest purchasers of dairy products in the world. As a result a downturn in China's economy is set to have an impact on import demand creating further pressures on global markets.