Will the prices of dairy products continue to rise in 2024?

By: Trademagazin Date: 2024. 01. 17. 12:23

Over the past two years, the prices of milk and milk products in Hungary have risen continuously, except for the previous month, when the price of milk and cheese decreased by 10 percent and 15 percent compared to a year earlier. Lajos Braunmüller, who spoke to Pénzcentrum, believes that there is no need to expect serious price increases this year, but the role of global economic factors may still be in question.

The increase in shipping costs and purchase prices also contributed to the price increase. According to the experts, although there is little chance of a serious increase in prices, the producers were already forced to reduce the purchase prices. Global economic challenges may bring additional uncertainty to the market.

Production statistics show that the purchase of cow’s milk is around 130,000 tons per month, which is similar to the level of 2019. Cheese is produced in a much smaller volume, about 7-8 thousand tons every month. Based on the current trends and the economic environment, it is still difficult to say how deep our pockets will be if we buy dairy products in 2024. Balanced market conditions and the price strategy used by producers can also play a decisive role in this process.