Cheap milk turns into an expensive product as the expensive Hungarian butter

Hungary

New Zealand

Market & Price Trends

Published Mar 23, 2024

Tridge summary

Global milk prices are on a downward trend, with Hungarian milk prices remaining below the EU average. However, despite a decrease in milk availability, butter production in Hungary has increased, leading to higher prices. The cost of dairy products in Hungary can be up to 30% higher than in other countries. The domestic market is heavily reliant on imports for butter and cheese, a situation worsened last year by a surge in Chinese demand for butter, which led to a 14% increase in EU exports.

Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

Global milk prices are on the decline, and it is no different here. Hungarian milk is – as always – cheaper than the EU average. On the other hand, the butter available in domestic stores is much more expensive. This is the reason. In Italy, 2023. 48.-2024. Between week 12, the spot market price of milk decreased by 12 euros (-19%) to 45.5 euros/100 kilograms. We also see price reductions in the annual perspective, even on a global level. In January, the producer price of raw milk expressed in national currency was 8 percent lower in New Zealand, 13 percent lower in the USA, and 16 percent lower in the European Union than at this time last year. In February, according to AKI PÁIR data, the national average producer price of raw milk in Hungary was HUF 164.3/kg, which is 24 percent lower than a year ago, despite the typical increase since the end of the year. According to January EU data, the purchase price of Hungarian raw milk was 43.11 cents, as usual below the EU average (44.25 ...

Source: Agraragazat