Record 82.5% rise in butter prices in Russia halted

Since the end of June 2024, the price of butter has increased by 200 rubles, and over the year from July 2023 to July 2024, the growth was 100%. According to Alexander Polyak, the butter market broke all records, but in September there was a slight price correction. In Belarus, the situation with butter reserves remains tense, which also affects the Russian market. A survey of DairyTrader market participants showed that 29% of respondents expect the price of butter to remain in the range of 970-1000 rubles / kg, 16% predict an increase to 1000-1025 rubles / kg, and 14% believe that it will reach 1025-1050 rubles / kg. At the same time, 13% of experts named the range of 900-950 rubles / kg, and 12% suggest a price in the range of 950-975 rubles / kg. 11% expect growth to 1050-1100 rubles/kg.

Alexander Polyak also cited data from the Expert and Analytical Center for Agribusiness, according to which, over the year, butter in retail stores has risen in price by 20.5%, pasteurized milk - by 10.4%, sour cream - by 9.3%, infant formula - by 8.1%, cheese - by 6.8%, cottage cheese - by 4.8%.

“Considering that food inflation in the country has reached 20%, further growth in the price of butter may slow down. However, prices for milk, sour cream, cottage cheese and cheese may still rise by 15%,” noted Alexander Polyak.

On September 20, 2024, on the Belarusian Universal Commodity Exchange (BUCE), the price of butter decreased by 40-60 rubles compared to the previous session.