European butter prices reach highest level since 2014
Though the average EU price of butter fell by almost 1% last week, it jumped from €3.47/kg to €3.75/kg the week before. This was the highest price butter has been since February 2014.
In fact, since May this year the average price of butter has steadily risen in Europe.
In Ireland, the price for butter at the end of last week was €3.09/kg which is below the European weekly average. On the opposite end of the scale, Slovakia’s price for butter is €4.16/kg.
Other interesting figures released by the EU Milk Market Observatory show that whey powder prices are up 41% on this time last year. Since the end of July, whey prices have been steadily increasing and have now hit their highest level in 18 months at 92c/kg.
Cheddar cheese is also up by 4.8% compared with the week previously and up 6% more compared with this time last year.
The price of skimmed milk powder increased 1.3% last week. While the average weekly price of SMP is €1.92/kg, in Ireland it costs €1.70/kg.