Global Butter Supply Shortage Fuels Surge in Dairy Exports

The global dairy market has recently experienced substantial shifts as a result of tightening butter supplies, leading to notable increases in prices. According to Bord Bia, European Union butter prices have surged by 47% compared to 2023. This price hike has particularly affected Irish exports, with 38% of their butter shipments directed towards the EU market.

This significant rise in prices highlights the mounting pressures on the global dairy industry, exacerbated by a constricted supply chain. The current circumstances have propelled a growth in dairy exports, as producers and exporters alike seek to capitalize on the higher price margins.