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Butter: prices approach record levels

October 7, 2021 3:28 PM, Der AUDITOR
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FRANKFURT/BRUSSELS. EU average butter prices have hit levels last seen in March 2019. Prices in Germany are also approaching levels last witnessed in the record year 2018. Prospects are, in addition, mixed in the USA.

Buyers put off from cream

The year 2018 came as shock to market players in Germany with prices hitting unprecedented levels and forcing them to adapt a new highly volatile butter market, which rendered planning much more difficult. Bulk butter prices have surged in recent weeks and are back on track to the levels last witnessed three years ago when prices reached a historic high of EUR 5.75/kg EXW Germany. Although prices presently still range a far way off this level at EUR 4.50/kg, it should be noted that such a level was last witnessed in January 2019.

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FRANKFURT/BRUSSELS. Consumers are really confronted with a painful surge in prices as recent data shows. EU butter prices, for instance, soared by more than 70% in April as compared with last year. Dairy farmers are also reeling from high production costs. Although leading processors such as Kerry have stepped up support for farmers, the proposed scheme is a gamble at best.
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FRANKFURT/BRUSSELS. Consumers have not been deterred by high butter prices in Germany so far after several discounters including Aldi and Lidl raised prices in April. Although average EU butter prices range 70% higher than last year, this has failed to impress exports.
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FRANKFURT/BRUSSELS. No, discount supermarket chain Aldi did not play an April Fools’ trick on Friday by announcing that consumers in Germany will have to pay 30% more for butter. Trouble is that prices for milk and dairy products are skyrocketing, which is not only driven by inflation in general but also by the war in Ukraine. EU feed and energy costs have surged by 15% in the past four weeks as DG Agri and DG Energy report.
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