Brexit Impacts Cheese and Butter Prices in UK

The wholesale price of cheddar cheese in the UK rose by +18.59% YoY to 4.62 USD/KG in W4 November 2021. At the same time, the wholesale price of butter in the UK also rose by +44.56% YoY to 5.88 USD/KG. The increase in the prices of these two dairy products was related to the Brexit issue which led to a decrease in imports of cheese and butter from the EU to the UK, thus boosting the production of cheese and butter in the UK. However, as demand is covered by domestic production, there is a risk that a supply shortage could lead to a deficit and an increase in the price of cheese and butter in the domestic market.