Cheeses: prices and consumption in times of Covid-19

Published 2020년 6월 3일

Tridge summary

The COVID-19 pandemic has significantly impacted the dairy industry, particularly in Brazil, where the closure of restaurants and food service chains has led to a sharp decrease in demand for dairy products, especially cheese. Approximately one-third of Brazilian cheese production is for outside home consumption, and the sudden loss in demand has caused a drop in prices. This has resulted in an oversupply of milk, which has put downward pressure on milk prices. However, a recovery in cheese and other dairy product prices may be possible in the short and medium term, provided that domestic consumption resumes. Brazil, which was the third-largest cheese consumer in 2019, consumed 5.31 kg/inhabitant/year, revealing significant growth potential. Cheese consumption was expected to grow by 1.9% in 2020 but may decline due to the pandemic.

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

Original content

Dairy products suffered a strong retraction in demand due to the closing of restaurants and food service chains The restrictive measures in force since mid-March, due to the pandemic caused by the covid-19, affected the market for dairy products. Dairy products suffered a sharp retraction in demand due to the closing of restaurants and food service chains. Approximately one third of the Brazilian cheese production is destined for the consumption of food outside the home. As a result, demand was suddenly suppressed and this reflected directly in prices. At the beginning of March, due to the rush to supermarkets due to fear of product shortages, the price went up, however the picture of full supply, dispelled this fear and prices fell in the following fortnight, see in figure 1 the behavior of prices of mozzarella, parmesan, dish and provolone cheeses. Source: Scot Consultoria - www.scotconsultoria.com.br The drop in cheese consumption has increased the supply of milk by the “cheese ...

Source: Noticias