Get the latest insights on price movement and trends analysis of Cheese in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).
Cheese Price Trends for the First Half of 2023
In India, milk and all its associated products, including Cheese, saw a rise in prices as the surge in vegetable and agricultural products because of the unseasonal and adverse weather conditions raised the cattle fodder prices. The lumpy skin disease epidemic in cattle also caused a reduction in milk yield. Rising global inflation also had its role to play in rising costs, especially as India is a high dairy-consuming country. Cheese prices remained on an upward trends throughout the discussed period.
European Union struggled the most with rising inflation among other world markets as the Russian energy supplies totally crumbled for Europe following Russia’s armed invasion of Ukraine. In Germany, the average cheese price rose from about 7750 Euro/MT to about 7850 Euro/MT within the first five months of the year 2023, only to marginally subside in June. Overall, the market performance was positive throughout the said period.
Contrary to the other markets, cheese prices fell in the American market owing to the lowered end consumer demands. As lactose intolerance rose and the concept of veganism gained popularity, cheese prices reduced, averaging at around 4856 USD/MT (cheddar cheese) in June’23.
According to Procurement Resource, given the varying global cheese demand patterns, the prices are likely to fluctuate in the upcoming months as well, with higher projections in Asia and weak estimations from the West.
Cheese Price Trends for the Second Half of 2022
The cheese prices stayed on an inclined trajectory for most of H2 2022, only to be plateaued in the later Q4. Milk consumption has seen a rise in the country over the years. Dairy price inflation and a consistently high market demand remained the reason for a rise in cheese prices. The popularity of cheese-based food is also on the rise, especially among the urban population in the country. In the last two months of the year 2022, prices plateaued but remained high compared to previous years.
The European market had very mixed price trendss for cheese in the said period. Gouda and EDAM cheeses almost duplicated their price trendss, while cheddar and Emmental prices remained fluctuating until the end of 2022. Cheddar price trendss almost flattened in the last quarter. Europe is a highly cheese-consuming region, as inflation hit hard in 2022, cheese prices also felt the impact. Overall, for the year 2022, the prices maintained a growth trajectory. There was a year-on-year rise in cheese prices in Europe.
The North American market behaved no differently than the European market in terms of cheese prices. The prices rose initially and then flattened. Market demand remained the major determining factor as the USA is the biggest producer of cheese, the supplies were not an issue.
According to Procurement Resource, cheese prices are expected to exhibit mixed price patterns. Given the rising inflation, the purchasing power of the consumer is contracting which will affect global prices. Regions with rising demands will gain momentum, while stagnancy is expected from markets with stagnant or sullen demands.
Cheese Price Trends For the First Half of 2022
The continuing Russian-Ukrainian geopolitical stance and the retaliatory sanctions by the west against Russia and Belarus created massive volatility in the global market. The dairy costs skyrocketed due to the rising costs of buying cattle, animal feed and farm labour. The record-breaking rise in milk prices has trickled down the other dairy products.
Amid the robust demand for butter, the available milk supplies were constantly diverted for butter production, causing the Cheese prices to inflate. The price of European Cheddar cheese went from 3384 Euro/MT in January to 4489 Euro/MT in June 2022. The cheese prices in Germany went from 4156 Euro/Mt in January to 5310 Euro/MT towards the end of June 2022.
In the US, dairy prices increased by 11.8% Y-O-Y basis, whereas milk and cheese prices increased by 15.9% and 8.7% Y-O-Y basis, respectively. These inflated prices are causing customers to make tough choices.
With the available milk constantly being diverted for butter production, Canadian Cheese company Saputo raised their cheese prices multiple times in the year owing to capacity constraints. The cheese prices went from 3686 Euro/MT in January to 4562 Euro/MT in the US domestic market. The price trendss of Cheese will continue to remain strong due to the constricted supply and robust end-user demand.
Procurement Resource provides latest prices of Cheese. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Cheese is a well-known dairy product that is extracted from milk and is prepared in a wide range of flavours, textures, as well as forms by coagulation of the milk protein casein. Generally, it is made up of or composed of proteins and fats.
|Industrial Uses||Processed food and fast food, Spread, Grilling and baking, Confectionery|
|Supplier Database||Fonterra Co-operative Group, Arla Foods Amba, Danone S.A, Kerrygold USA, Yorkshire Cheese, Unilever PLC, Nestle SA|
|Region/Countries Covered||Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, Australia, and New Zealand
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
|Currency||US$ (Data can also be provided in local currency)|
|Supplier Database Availability||Yes|
|Customization Scope||The report can be customized as per the requirements of the customer|
|Post-Sale Analyst Support||360-degree analyst support after report delivery|
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
There are six essential steps in cheesemaking that are widely utilised. The production of cheese starts with milk, and these steps are milk acidification, coagulation, separation of curd along with whey, salting, shaping, and ripening the same to finally produce cheese.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
Procurement Resource is a one-stop solution for businesses aiming at the best industry insights and market evaluation in the arena of procurement. Our team of market leaders covers all the facets of procurement strategies with its holistic industry reports, extensive production cost and pre-feasibility insights, and price trends dynamics impacting the cost trajectories of the plethora of products encompassing various industries. With the best analysis of the market trends and comprehensive consulting in light of the best strategic footstep, Procurement Resource got all that it takes.
Procurement Resource has made a mark for itself in terms of its rigorous assistance to its clientele. Our experienced panel of experts leave no stone unturned in ensuring the expertise at every step of our clients' strategic procurement journey. Our prompt assistance, prudential analysis, and pragmatic tactics considering the best procurement move for industries are all that sets us apart. We at Procurement Resource value our clients, which our clients vouch for.
Expertise, judiciousness, and expedience are the crucial aspects of our modus operandi at Procurement Resource. Quality is non-negotiable, and we don't compromise on that. Our best-in-class solutions, elaborative consulting substantiated by exhaustive evaluation, and fool-proof reports have led us to come this far, making us the ‘numero uno' in the domain of procurement. Be it exclusive qualitative research or assiduous quantitative research methodologies, our high quality of work is what our clients swear by.