The effects of exogenous shocks on the dairy sector

This work investigates the economic impact, both theoretically and empirically, of exogenous shocks on the dairy sector. By examining the existent literature and analysing the data, the study explores how external factors, such as COVID 19, climate crisis and Ukraine’s war have an impact on dairy production, pricing and on the market dynamics. To provide an addition to what has already been observed in the existing literature, this paper restricts its data analysis field not to the whole sector but to specific products, starting from products used to create derivatives, or the whey used both for feeding animals and for the production of products, such as antibiotics or supplements, intended for humans, to then analyse products used worldwide such as butter and Edam and finally two Italian excellences, Grana Padano and Parmigiano-Reggiano.