World butter prices hit historic highs in April

In April, the FAO Dairy Price Index averaged 152.1 points, up 2.4% from March and 22.9% from April 2024, the FAO said.

International butter prices continued to rise for the third consecutive month, rising 2.9% in April to a new record high. The sharp increase was largely driven by rising prices in European countries amid declining stocks and strong demand for milk fats, despite seasonal increases in milk production.

World prices for powdered milk (skimmed and whole) also rose by 1.6% and 2.9%, respectively, on solid domestic demand and a shift in export patterns. From Europe, where it was previously focused, but the strengthening of the euro has negatively affected competitiveness, to Oceania, where supply has been limited due to a seasonal decline in milk production.

International cheese prices rose by 2.3% compared to March, driven by strong export demand amid tight supply in Oceania.

Tags: prices, butter