Cow butter with record prices in Europe

Published 2024년 10월 16일

Tridge summary

The price of cow butter in Europe has reached record highs, exceeding $8,700 per tonne, an 83% increase from the previous year, creating challenges for confectionery manufacturers ahead of the Christmas season. This surge is due to limited butter stocks and increased demand for oil, as global milk production remains constrained. Milk processors are focusing on cheese production, which is more competitive, leading to a 1.6% decline in butter production and a 3.2% increase in cheese production from January 2023 to July 2024. Additionally, cow diseases like bluetongue and epizootic haemorrhagic disease in Western Europe have further strained supply.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The price of cow butter has risen sharply in recent months and is now trading at record highs across Europe. The price of the dairy product produced in the Old Continent exceeded $8,700 per tonne, up 83% year-on-year, the latest official EU figures show. This is bad news for confectionery manufacturers just in time for the busy preparations for the Christmas holidays. and against the background of increased prices for chocolate and sugar, notes "Reuters". According to the agency's analysis, the main reason for the price increase is the limited stocks with increased demand for oil. "Global milk production recovered slightly in 2024, but remained limited compared to rising demand, which led milk processors to prefer to produce more competitive products such as cheese rather than butter," commented Michael Harvey, senior market dynamics analyst. of dairy products in the Dutch financial group Rabobank. Milk production in the EU grew by 0.7% ...

Source: Duma