World butter prices hit historic record
A sharp increase in butter prices is observed on the world market.
At the first auction of the Global Dairy Trade (GDT) in May, the average price of butter was $7,992/t, although in March it reached a record value of $6,493/t, writes DairyNews.today.
It is noted that the world butter market is showing record high export prices, as demand continues to grow in key regions.
At the same time, international reports record low butter stocks in key regions, such as Western Europe, which further stimulates the growth of milk fat prices. Also, in the USA, stocks are increasing, which may indicate the approach of a price peak.
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