EU dairy product availability: butter supplies fall in Q1 as production shrinks

Published 2024년 7월 10일

Tridge summary

In the first quarter of 2024, the European Union experienced a slight increase in the availability of dairy products, with milk deliveries rising by 1.5% to 35.29 billion liters. This increase primarily boosted cheese production, while butter and SMP production remained stagnant or decreased due to lower production and imports. Butter supplies fell because of these factors and limited retail demand. Cheese supplies surged due to increased production and imports, supported by robust retail demand. SMP supplies also increased due to higher imports, despite lower exports, particularly to China. The European Commission anticipates a minor rise in milk deliveries in 2024, leading to higher dairy production. However, subdued global demand could dampen dairy export growth, and new environmental and animal welfare standards could impact dairy production.

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

Original content

EU’s dairy product availability edged up in Q1 2024 after having been mostly lower in 2023. Butter has bucked the trend and available supplies continue to decline amid a decline in production. Milk deliveries in EU in the first quarter of 2024 increased by 1.5% to 35.29 billion litres year-on-year. Increase in milk deliveries bolstered the production of cheese while that of butter and SMP remained on the lower side. The available supplies of butter fell primarily due to lower production and imports. Export volumes also remained lower during the period. Demand was limited as buyers were well secured for Q1. However, retail demand towards the end of the quarter was seen to be improving. Higher cream prices limited churning rates for butter. Cheese available supplies were higher in Q1 2024 driven by a large increase in production and higher imports. Exports remained marginally higher during the period. Good retail demand incentivised processors to push production. Coupled with this ...

Source: Ahdb