World: European butter prices plunge more than 5 percent

Published 2023년 1월 5일

Tridge summary

The article reports the current prices for various dairy products in the EU, including butter at 567 euros per 100 kilos and whole milk powder at 404 euros. However, quotations for skimmed milk powder have seen a decrease of 1.1 percent to 292 euros. The only product showing a slight increase is cheddar, with an average increase of 0.2 percent to 470 euros. The Global Dairy Trade also shows declines in butter, whole milk powder, skimmed milk powder, and cheddar by 2.8 percent on average this week. The European Commission also noted a decrease in milk production in Australia and New Zealand by 9.1 percent and 1.7 percent respectively, while production increased in the United States and the United Kingdom. The total production in the EU also saw a decrease of 0.2 percent in the first ten months of 2022 compared to the same period in the previous year.

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

Original content

Butter stands at 567 euros per 100 kilos in the EU, whole milk powder at 404 euros. Quotations for skimmed milk powder fell by 1.1 percent to 292 euros. Only the quotations for cheddar remained almost the same and showed an average small plus of 0.2 percent to 470 euros. Another key indicator of the market, New Zealand's Global Dairy Trade, also shows declines in butter (-2.8 percent), whole milk powder (-1.4 percent), skimmed milk powder (- 4.3 percent) and cheddar (-2.7 percent). On average, the Global Dairy Trade is down 2.8 percent this week. Australia and New Zealand In the market overview, the European Commission also reports that Australian milk production fell by 9.1 percent in November compared to a year earlier and New Zealand milk production by 1.7 ...

Source: Nieuwe Oogst