MD_DA104 Butter/Butteroil - Europe Report 11 - Released on March 12, 2020 Butter prices in Western Europe are steady to higher, partly due to the exchange rate between the dollar and euro. Butteroil prices are mixed, lower at the bottom of the price range but higher at the top. Germany continues to report the highest butter prices. Belgium, France and Netherlands follow at lower levels. Sources report that demand for packaged butter in Germany and other large Western European countries has increased sharply since the end of February. Partly this is attributed to consumer stocking following news about coronavirus. Some German supermarkets have empty butter spaces in coolers. Butter producers are working to keep up. The season when customers typically increase buying for spring religious holidays is approaching. It is unclear whether consumers will be able to carry current buying forward, or whether the normal spring purchase demand is still ahead. Typically, the production season peaks in May. Western Europe, 82% Butterfat, Free on Board - Port Butter Price Range - $/MT: 3,775 - 4,100 Western Europe, 99% Butterfat, Free on Board - Port Butteroil Price Range - $/MT: 4,725 - 5,225 Information for the period March 2 - 13, 2020, issued biweekly Secondary Sourced Information: Butter production in the EU increased 1.0 percent during 2019, according to Eurostat. Butter exports from the EU for 2019, 180,197 MT, increased 41 percent. Changes for the top export destinations include the United States, 33,860 MT, +21 percent; United Arab Emirates, 10,948 MT, +154 percent; and China, 10,841 MT, +38 percent. Published by: Dairy Market News - Madison, WI Eric Graf, 608.422.8590 Email: Eric.Graf@usda.gov Additional Dairy Market News Information: Dairy Market News (DMN) by Phone: (608)422-8602 DMN Website: https://www.ams.usda.gov/market-news/dairy DMN MARS (My Market News): https://mymarketnews.ams.usda.gov