Estonian Cheese Prices Remain High Despite Global Milk Price Drop
The international market has seen a significant drop in raw milk prices, falling by 20-30% compared to last year. Despite this, Estonian cheese prices remain high. Triin Merilyn Varatalu from Estover noted that while cream and cheese prices in Europe have decreased due to overproduction, these changes have not yet impacted Estonian store shelves.
Varatalu explained that the price of raw milk has not significantly decreased in Estonia or other EU countries, which limits the possibility of lowering cheese prices at the moment. She mentioned that promotional prices for butter and natural cheese are expected in February and March, as Estover adjusts its pricing strategy.
Maido Solovjov, CEO of Valio Eesti, confirmed the anticipated price drop for cheese and butter starting in February, asserting that Estonian consumers will soon benefit from competitive prices. Lithuanian butter has already seen price reductions in Estonian markets, attributed to Lithuanian producers' quick market response.
Oliver Rist from Coop Eesti Keskühistu highlighted that cheese prices vary greatly depending on type, brand, and market conditions. He noted that strong competition forces many regular sandwich cheeses to be sold at promotional prices, with regular-priced cheese seeing little demand.
According to the Estonian Institute of Economic Research, the average price of cheese per kilogram in December was €11.95, a slight increase from the previous year. Butter was priced at an average of €14.77 per kilogram, compared to €14.08 the year before.
