January hike to persist in EU
Although average EU butter prices are quoted nominally higher by the EU Commission at EUR 3.45/kg, they range 5% lower than last year. Analysts, nevertheless, reckon that prices will continue to rise on the back of strong export demand and limited milk production. Prices range lowest in Italy at EUR 3.25/kg and highest in Slovakia at EUR 4.66/kg.
Average prices in Ireland are EUR 3.34/kg and in France 3.41/kg. World butter prices are still most attractive in the US. Although US butter prices gained nominally by 0.5% in January,