Milk may become more expensive

By: Trademagazin Date: 2024. 02. 22. 09:28

Among the staple foods, the average price of milk is on the verge of further increase, having already shown a two percent increase in January 2024. According to a recent report of the Agrarian Economic Institute (AKI), although the producer price of raw milk in January was still lower than the same period of the previous year, there are signs that point to an increase in prices.

In the first month of this year, the national average producer price of raw milk was HUF 164.63/kg, and although the fat and protein content showed a slight deterioration, the base price rose by 2 percent. This resulted in a 2 percent increase in the average price compared to December 2023, but it is still 26 percent behind the same period of the previous year.

According to AKI’s analysis, there has been an increase since the middle of the year. Due to the base effect, the price shows a significant decrease on an annual basis, but due to the increase after the price drop and last year’s lower prices, the possibility of an increase in prices may arise.

While the producer price of raw milk on the world market shows a downward trend, the price of dairy products varies globally. The prices of bulk butter and whole milk powder increased, while skimmed milk powder and cheddar cheese decreased.