More Commodities - Dairy Products

Butter: EU prices to become more competitive

December 3, 2020 at 11:34 AM, Der AUDITOR
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FRANKFURT/BRUSSELS. Market players in Europe are highly excited about recent price developments in New Zealand. Although the run-on supermarkets failed to drive up turnovers in line with expectations, butter is a noted exception in the EU. Global production estimates are highly encouraging for 2020.

Encouraging outlook in Europe

Market players in Europe are taking their cue from the Global Dairy Trade. With butter prices quoting higher this week at USD 3,986/mt, they are nearing European prices, which the USDA recently quoted at USD 4,119/mt. Suppliers are highly optimistic that they will be able to better compete in the international market. Weekly average EU butter prices have recently declined to EUR 4.47/kg and range 4% lower than one year ago. Christmas sales are different in the EU this year. Paket butter sales usually peak in the weeks before Christmas a

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