Prices of dairy products set to rise in Switzerland

Last update February 25, 2022

Investec February 25, 2022 SNB & CHF

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Summary:
Dairy prices are rising globally. Higher global prices are expected to trigger price rises in Switzerland as local dairy farmers follow the global trend, reported 20 Minutes. © Erix2005 | Dreamstime.com Since the beginning of the year, the price of a tonne of dried milk has risen by around 16% to US$ 4,503, according to the website Global Dairy Trade. Contracts dated March 2022 are priced slightly higher at US$ 4,510. Between 4 January and 15 February 2022, prices rose 16% from US$ 3,866 to US$ 4,503. Five years ago the price was US$ 2,782, 38% lower than it is today. In Switzerland, the price of milk is going to rise,Pierre-André Pittet, a spokesperson for PSL, an association of milk producers, told 20 Minutes. Swiss milk producers could probably demand

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Dairy prices are rising globally. Higher global prices are expected to trigger price rises in Switzerland as local dairy farmers follow the global trend, reported 20 Minutes.

Since the beginning of the year, the price of a tonne of dried milk has risen by around 16% to US$ 4,503, according to the website Global Dairy Trade. Contracts dated March 2022 are priced slightly higher at US$ 4,510. Between 4 January and 15 February 2022, prices rose 16% from US$ 3,866 to US$ 4,503. Five years ago the price was US$ 2,782, 38% lower than it is today. In Switzerland, the price of milk is going to rise,Pierre-André Pittet, a spokesperson for PSL, an association of milk producers, told 20 Minutes. Swiss milk producers could probably demand around 3 cents more per kilo of milk from April or May 2022, he said. This price increase will be felt by retailers and consumers. Butter, yogurt, milk and cheese are likely to soon cost more in Switzerland. Along with rising milk prices, the costs of producing milk have gone up, according toMarkus Ritter, head of a Swiss farmers’ union. The costs of fuel, farm construction and fertiliser have all risen, he said. Synthetic fertilisers require high amounts of energy in their production, typically gas. As fossil fuel prices have taken off so have the costs of producing fertiliser, a key farming ingredient in Switzerland.